Market Update -Yesterday’s Wrap Forecast Scenario Playing Out Eerily Accurately?

Most of the averages are making an attempt to breakout of the week-long bullishly-biased consolidation. SPX (10M) Price action doesn’t look bad, although pulling back fairly substantially from the opening, post cool PPI gains. SPX is having a little trouble with the $7800 area mentioned yesterday in the narrow range between $7700 and $7800. From…