The Week Ahead — catalysts you are walking into
A free sample of how the weekly note frames the week. No paywall on this one.
The overnight session did the work. Positioning that built through the back half of last week came off in size between the European open and the New York handover, and the tape you are looking at this morning is the residue of that unwind rather than a fresh directional bet.
That distinction matters, because the two behave completely differently once cash opens. An unwind exhausts itself. A fresh bet gets added to.
Here is where the exhaustion signals sit this morning, and the two levels that decide which of those we are in.
The DeMark Sequential on the front contract registered a completed 13 on the overnight bars, which on its own is a caution flag rather than a signal. Paired with breadth, it becomes something you can act on.
Cross-asset, the dollar is doing the confirming work. Rates are not.