sp'60min
Summary
*weekly jobless claims: 280k... much better than expected
August housing starts -14.4%... pretty ugly number
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Hourly equity cycles are clearly over-stretched. It won't be easy for the bulls to keep pushing higher across all of today. I'd still not be surprised if we pull a touch negative later in the morning.
Notable early weakness, coal miners, BTU -2.7%
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*I would like to go long-index, but finding an acceptable entry is going to be difficult.
9.11am.. sp +7pts... 2008... a mere 3pts shy of the historic high.
According to clown finance TV, the Alibaba IPO will price tonight, and so I guess the actual first trades won't be until tomorrow.