US equities are due a natural down cycle, having probably peaked at sp'2105.. and VIX 13.06. There is viable downside into early Wednesday - when the Yellen is due to appear, to the micro gap around sp'2080. Metals and Oil are under increasing pressure as the USD is battling to turn back positive.
Well, it the usual turn time of 11am... considering the smaller 5/15/60min cycles, I'd be surprised if we don't start seeing some moderate weakness for the rest of today.
A mini washout tomorrow morning to around 2080 would be pretty natural.
*I have my eyes on INTC (earnings Wed' at the close)... I'd consider picking it up again.. if 29.50s.. or lower. There seems ZERO hurry though.. not least before the Yellen appears.
time for an early lunch
11.36am.. Despite another 3pts higher... it changes little... market still due to cool lower.
As a short trade.. overly risky.. to me at least.
From the long side.. you'd think some would be raising their stops right now.... to the sp'2100 threshold... if not higher.
11.46am.. TWTR rumour.. $31bn offer....
Stock +5%.... not much.. considering.