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USD: Sep ’26 is Up at 99.650. Energies: Sep ’26 Crude is Up at 75.82. Financials: The Sep ’26 30 Year T-Bond is Lower by 2 ticks and trading at 109.29. Indices: The Jun ’26 S&P 500 emini ES contract is 60 ticks Higher and trading at 7764.50. Gold: The Aug’26 Gold contract is trading Up at 4329.00 Initial conclusion This is not a correlated market. The USD is Up and Crude is Up which is not normal, and the 30-Year T-Bond is trading Lower. The Financials should always correlate with the US dollar such that if the dollar is Higher, then the bonds should follow and vice-versa. The S&P is Higher and Crude is trading Higher which is not correlated. Gold is trading Higher which is not correlated with the US dollar trading Up. I tend to believe that Gold has an inverse relationship with the US Dollar as when the US Dollar is down, Gold tends to rise in value and vice-versa. Think of it as a seesaw, when one goes Up the other goes Down. Asia traded Mixed. All of Europe is trading Higher. Possible challenges to traders Challenger Job Cuts y/y is out at 5:30 AM EST. Major. Unemployment Claims is out at 8:30 AM EST. Major. Prelim Nonfarm Productivity q/q is out at 8:30 AM EST. Major. Prelim Unit Labor Costs q/q is out at 8:30 AM EST. Major. Final Wholesale Inventories m/m is out at 8:30 AM EST. Major. Natural Gas Storage is out at 10:30 AM EST. Major. We’ve elected to switch gears a bit and show correlation between the 2-year…