A minor down wave in the broader market, but especially so in the weaker R2K/Nasdaq, with the R2K sporting a major reversal of earlier gains. VIX remains fractionally red.
Suffice to say, the weakness in the R2K is interesting, but the broader market is still holding together.
Notable weakness: TSLA
Considering earnings...those on the long side have a right to be bemused at the markets response. Looks like we are seeing a test of the 200 day MA.
2.12pm.. sp'1878..and we should be finding some support here.
The R2K/Nasdaq daily charts sure look pretty ugly, but with the VIX +0.5%...I can't take any bearish case in the near term seriously.
2.24pm...market trying to floor at 1876....with a VIX that is barely green.
2.30pm.. Looks like we a pretty strong floor...1876...even the R2K is trying to turn upward.
Notable strength: Ford, +2.6%
2.46pm.. so much for the floor...continuing weakness, and the R2K is due to lose 1100 again..hmm