The monthly jobs data was better than anyone had been seeking, and it was understandable to see futures flip back to green from earlier pre-market declines. So..what now? The question once again is...'who wants to go long into the weekend?'. That's right..I didn't think so.
A rough start to the end of the week for the bears. The Dow has taken out the Monday spike high, although the sp' and transports are still holding under.
Without doubt, the most notable aspect of the last few days..the strength of the dollar, now up another 0.3% in the USD 80.50s. The downward pressure on equities/commodities IS increasing. despite this mornings opening gains.
*Gold is having a wild ride this morning, -$11...now +$7..despite the dollar. There is chatter out there that Gold might explode highner next week, on the 'QE4' FOMC announcement. Even though such measures were already announced in mid-September.
UPDATE 10.30am. looks like we've got stuck just under sp1420..so..the line..held.
Even better though...
we have a reversal in the VIX. A classic early warning of index declines...
So, lets see if we can get the indexes red by early afternoon.
That opening VIX hourly candle is the best signal I have right now.