US equity indexes open moderately lower, with the sp - pts @ 20 . A test of the 2000 threshold would be very natural by 11am.. before latter day strength. VIX is a little higher, but if equities do recover into the afternoon, an eleventh net daily decline will occur.
*opening reversal candle in Oil
I am increasingly tempted to pick up USO-long... but for now, would prefer to wait another 30-60mins.. see if the main market has another down wave.
So.. opening weakness.. but really.. it should be clear.. this is very likely just another tease to the equity bears.. and we'll be trading into the sp'2020/30s by end week.
notable strength: TWTR +4.4%.. but really.. those gains sure look shaky.
10.08am.. Market and Oil in tandem.
Micro cycles are now on the high end.... seeking renewed weakness.