sp'60min
VIX'60min
Summary
*ISM serv': 53.2, broadly inline PMI serv':53.5.... under consensus of 55s
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So.. we're higher, but clearly, the gains are kinda bizarre considering overnight price action in Asia/Europe.
Best guess.... yesterday's low of sp'1897 will be marginally broken under, whether late today or tomorrow. From there, Friday offers better chance of renewed upside.. with the 1970s next week.
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notable weakness...
Ford (F) -1.8%, TSLA -4.5%, GM -1.9%, notable sector anomaly.. RACE +5%.
BAC -2.4%... comments from Kuroda are not helping financial stocks across the world.
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time for a little sun, and to shop... back soon for the oil report.
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10.36am.. Oil inventory surplus, 7.8 million, much like last week.
So.. equities to sp'1873... and it will soon be time for a turn.
I'd guess the retrace of the bounce from 1947 is about complete.