The US equity bulls will try to make a stand here

S&P 500 futures are up 0.8% and Russell 2000 futures are up 1%.

Both of those moves only recover a small portion of the rout yesterday and they look vulnerable to further selling especially with 10-year yields breaking the November highs.

It’s certainly a gut-check day and I think price action will reveal where the strong hands are located.

This article was written by Adam Button at www.forexlive.com.