10am update - opening mixed chop

US equities opening with some minor mixed chop. Despite Draghi failing to inspire anyone today, the market looks set for a viable bounce to sp'1958/60... before resuming lower. Oil is weak, -0.5%. VIX is slowly cooling, -2%


sp'15min

Summary

Equity bulls have a problem with an increasingly strong wall around 1980.

Bears just to restrain each bounce...
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*I'll consider picking up an index short later this morning.. certainly if we get stuck around 1960.


10.01am. Factory orders :  -10.1%... truly lousy number.


10.09am... weak chop... but it does seem we'll get that minor bounce. 


10.19am... It remains choppy, and even if we do manage to claw to 1958/60, this is going to take until 2pm or so...