Good morning. Futures are moderately lower, sp -12pts, we're set to open at 2092. Despite China devaluing the Renminbi, the USD is fractionally lower, -0.1% in the DXY 97.00s. Metals continue to bounce, Gold +$6, whilst Oil remains broadly weak, -1.3% in the $44s.
So.... now its a case of whether yesterday's nonsense can be fully negated across the next few days.
Equity bears should be seeking at least a net daily decline in the 2095/85 zone. Preferably though,we'll close in the 2085/75 zone.. along with VIX 14s.
Long day ahead.... and my head is already spinning with 'moving/house issues'.
notable early movers: SHAK, +8% in the $76s
Ford (F), -1.5%
AAPL -1.3% in the $118s.
Overnight China action: The Shanghai comp' closed essentially flat.
Have a good Tuesday
8.43am.. sp -15pts... we're set to open at 2089. Just another 11pts.. and we'll negate the entire 'Monday nonsense'. It would make for yet another stern reversal.
notable weakness: TWTR -1.8% in the $28s.... headed below the IPO price of $26.
9.00am.. equities really showing some weakness now.. borderline significant...
sp -18ts... 2086.... that should equate to VIX 13.75/14.25 at the open.
9.34am. VIX +9%... 13.30s... that is somewhat disappointing. Anyway.. lets see where we close.