MLR Steady, FXA Advances

The MLR updates are getting kind of boring, but it's a just a reflection of the ongoing uniform market advance. After a little consolidation pause we're seeing glimmers of strength as the leaders vie for position. The IWM and XLF charts actually look eerily similar, with both showing potential breakout patterns.
All eyes are on Monday's earnings reports, which will likely provide the initial catalyst for either a breakout or a breakdown. This earnings season has been unique in the lack of pre-earnings warnings so it will be really interesting to see if that's an indication of good things to come or an unwillingness to fess up.
Plenty of unknowns at this point that could move the markets either way in a hurry.

Over in the currency corner the Aussie dollar is making a nice run of higher highs as it reaches for the channel mean and the first point of technical resistance. FXA has been in an ascending LR30 channel since February and the midpoint technicals suggest it's comfortable on this momentum track for the near term.