If It Walks Like A Range…

..and it acts like a range, it’s definitely not a trend.

Breadth is decently low, below 40% inside Exodus. Financials leading us lower has me questioning the validity of the sellers because banks don’t matter until tomorrow.

In the meantime put your eyes on the PHLX Semiconductor index, right on the top end of what appears to be a range, see below:

Transports are nearing the top end of their intermediate-term range as well, after sellers failed to defend bracket low, post breakdown.

USD/JPY is flirting with the breakdown, again.

And EEM has already rolled over? Perhaps…TBD