US equities are increasingly weak, with the sp' trading back under the 2100 threshold. First soft support is around 2090, and then the 200dma (2062). With a weekly oil surplus of 2.8 million barrels, Oil has lost all short term upside momentum, -2.5% in the $46s.. and that is not helping energy stocks... nor the broader market.
There is a fair amount going on in the past few hours, not least in DIS... where there was a $0.5-0.75 million put spread trade, one that has seemingly spooked the stock itself.
It would seem someone with a lot of money to risk is betting on a sig' drop at the Friday open.. with earnings due at the Thursday close.
Right now, a move to the 108/105 zone looks very viable... even if earnings come in fine.
As for the broader market... a daily close in the 2090s would be useful.. and open the door wide to a weekly close in the 2060/50s.
VIX update from Mr T.
time for lunch