Early market has already seen some swings, the equity bears should be able to push the market lower..at least to the sp'1735/30 zone. Metals are significantly lower..with Silver breaking rising support. USD is strong, +0.6% in the 81.30s.
A very busy day ahead.... lets see what the bears can manage by late morning.
If the USD can hold the gains, along with rising bond yields, market should remain weak into the Friday close.
Meanwhile..in hysteria land...
A break <40 would be a real problem for the IPO chasing maniacs.
10.14am..just another lousy day for the TSLA holders...
Target remains 110/100... and I'm starting to see a few people also looking for 100/90.
10.20am.. a typical 'stupid bounce' will fail around 11am..... sp'1756/58
10.35am...sp'1760s..this is no doubt really starting to annoy many out there.
..and ZERO doubt..most of this is due to that bloody QE-pomo nonsense.
*the good thing..there is only 1 sig' QE next week..so..those who are broadly bearish..have 'fair' chance..early next week.
Metals continuing to slide...Gold -$24.. Silver has clearly broken support.
We're at the level where we had better reverse..or new highs...
I'd still guess this bounce fails into the afternoon.