Good morning. Futures are a little lower, sp -4pts, we're set to open at 2094. USD is cooling, -0.2% in the DXY 97.30s. Metals are bouncing, Gold +$5, whilst Oil is +1.1% in the $45s.
.. and here we go again. Now its a case of whether we can put in a lower low (<2087).. along with a lower high.
Equity bears should be seeking a break into the 2070s... along with VIX 14s. Things only get interesting on a daily close under the 200dma.. which will be around 2070 today.
*DIS have earnings at the close of today, and those will likely be very good. However, considering the broader market, there is a high probability that after an initial bounce ($123/125... the stock will sell lower.
Update from an increasingly bearish Oscar
Interesting to see Oscar highlight the Bonds.
Overnight China action: after a bit of chop, the Shanghai comp' ramped into the close, settling +3.7% @ 3756. A break under the recent low of 3373 still looks a given... even if PBOC cut rates in the next few days (they do tend to cut on a Sunday).
*awaiting factory orders data (10am)
Have a good Tuesday