sp'60min
Summary
*Retail sales: 0.2% vs 0.0% expected. Overall, the number is weak, but market it is acceptable to the market. November revised lower, from 0.4 to 0.1.
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So...the week has started with the first significant down day in over a month, and the bears have even taken out a few support lines. Yet..there are so many levels of support from 1812-1800, I find it very difficult to imagine that the market will go much lower from here.
Recent price action (not including yesterday) has not been in the least bit bearish, and even yesterday morning, had the VIX in the 11s.
Equity bulls just need to hold things together until early Wednesday, when the next round of sig' QE-pomo will kick in.
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Video update from Mr C.
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Notable early movers: INTC, +1.8%. F, +1.1%
stay tuned!