US equities open rather subdued. The hourly equity/VIX cycles continue to increasingly lean in favour of the equity bears. With the USD -0.4% in the DXY 94.40s, the metals are naturally on the rise, Gold +$11, with Silver +1.5%. Oil is +0.5% in the $39s.
*Chicago PMI: 53.6... nothing bearish there. Equity bulls should be rather pleased with that number.
Little to add.
First soft downside target for the bears should be a break under the Tuesday close of sp'2055. If that can be achieved, the door will open to 2040/35... with VIX 15s.
notable weakness, BA, daily
Lower for a seventh day... seemingly headed to 122/121.
time for some sun... back soon