US equities open moderately lower, but market action will likely remain choppy until the Yellen has appeared. Metals are mixed, Gold +$3, with Silver -0.1%. Oil is -3.2% in the low $38s, and that is really pressuring the oil/gas drillers, with RIG -6% and SDRL -10%.
Cyclically, I am not liking what I am seeing.
We're seeing a little weakness ahead of Yellen, and by 12pm, the hourly MACD cycle will be offering another push higher across this afternoon.
Just consider that TVIX is only +1%, with VIX still broadly subdued in the 15s.
Eyes on Oil, as that is clearly still steering the main market.
notable weakness... FCX, daily
Again, it remains highly notable that any time the market is just a little lower, the 'junk' stocks get smashed.
As for fake...
yours.. a fan of million dollar man, Ted DiBiase.
time for some sun... before the spring storms.