Opening gains, moderate, but certainly vulnerable to a reversal, at least for a few hours.
Phil Fed Survey: -12.9 vs -16.6 Lousy!
Leading indicators: -0.3 vs +0.4 weak!
Existing home sales:4.37m vs 4.55m - weaker than expected
Update - econ' data all poor, nothing good there.
We're at the top of the channel on the hourly index cycle, so...its going to be difficult for the market to hold these initial gains.
With the lousy econ-data, early gains fading, but we're not collapsing. Bears have ZERO downside momentum right now. Its going to take a few days just to get a down cycle started.
VIX flips green..is the low in for volatility?