US equities open moderately higher, with the sp' breaking above the Tuesday high to 1950. A third net daily gain looks probable, with the 1970s due by Friday/next Tuesday. VIX is naturally continuing to cool, -2% in the 21s, sub 20s look due. Oil is +1.7% ahead of the EIA report.
*note the daily MACD (blue bar histogram) equity cycle... on any fair basis, we're set to tick upward for another 3-4 days (at minimum).. and that takes us into early next week.
There seems zero reason for equity bears to be re-shorting ahead of the weekend.
So.. we're higher, and yes the gains are again a little shaky.
Certainly, market still looks tired, and this is clearly just a bounce.
Even the cheerleaders on clown finance TV seem resigned that we ain't breaking new historic highs for many.... many months.
notable weakness, Ford (F), -3.2% in the $12s....
time for a little sun.. and to shop... back soon!
10.31am.. Oil inventories: net build 230,000, minor.... but with giant increases in gasoline/distillates.
Oil is naturally -1.6%... and that is dragging the market moderately negative.
The sp'1901 low looks VERY secure though.... and I'm still guessing we close net higher... regardless of Oil.