US equity indexes open much the same as they did yesterday... micro chop. The hourly equity cycle is in the process of a MACD bearish cross.. with the VIX... bullish MACD cross. With the lower equity bollinger likely to be around 2060 late today... the 2050s look out of range in the immediate term.
*industrial production data was ugly, m/m -0.6%. Utilisation: 74.8%... a sig' drop of 1.9% from prev' month.
There isn't much to add.
The gap zone of sp'2065/61 is set to be filled... probably by late today or more viable... early Monday.
Of course..the 2060s aren't the least bit good to those in bear land.
Equity bears should be increasingly desperate to break the recent low of sp'2033.. if not sub 2020s by end month.
notable weakness... Seagate (STX)
Remaining ugly.... seemingly headed for the 22/20 zone.
**ohh, and BATS are trying to get listed this morning. Maybe they won't implode to zero this time?
time to shop... back soon