Good morning. Futures are moderately lower, sp -6pts, we're set to open at 1914. There is viable downside to the 1910/00 zone, before the first real attempt to rally to the 1960s. USD is +0.4%.. and that is again going to be a pressure on all US asset classes.
So.. we're set to open around yesterdays low, and will probably be trading in the 1910/00 zone by 11am.
As things are...I think there is high probability that today will be a key cycle floor.
*as noted recently, it is important for the bulls to hold above the March high of 1897. Although, some indexes - Dow/R2K, are already below it.
Update from Mr Permabull
Not surprisingly, Oscar is leaning on the bullish side, in terms of the current price structure.
*I will look to pick up an index-long this morning.. probably Dow/SP.
Good wishes for Wednesday trading
9.47am.. LONG the sp'500.. from 1912.
Opening black-fail candle on the VIX... turns red.
We a very viable key floor of 1911.
Blogger is giving me 'issues'... updates might be somewhat...sporadic.