In today's futures update, we're taking a look at macro markets, starting with the S&P E-mini futures which show what looks to be the beginning of some acceleration in momentum to the downside, similar to what we saw heading into August. The squeeze has not yet triggered, and as the S&P sits on the 21-day moving average we will watch for signs of stabilization, or a flush which would likely take us to the 89-day moving average. The Dow is relatively strong, with the Nasdaq also holding up decently. The Russell is the problem, continuing to lead the markets lower with no signs of reversal quite yet. The XLE energy has been sold relentlessly, which continues putting pressure on the broader market. The financials, another key sector, have also rolled over and are not currently showing signs of stabilization. The dollar continues ripping in a move we haven't seen for a long time. This has generally been bearish for stocks, although it hasn't been a 1:1 correlation the last few days. It is however bearish for the Euro which is getting clobbered. Bonds had a decent rally last week and we will continue watching the move as the intermediate direction has not confirmed. Crude has been bearish for a while now but looks like its setting up a bottom at least for a short-term trade. Gold has likewise been in trouble, and looks to be heading lower with the dollar continuing to rip. Live cattle is one commodity market that does look strong and is set up to buy on pull-backs. Grains have sold off extremely sharply, and we're stalking for buys near support levels on the weekly. Natural gas is setting up similar to crude and is another market that looks like it's going to pop higher.