Good morning. Futures are moderately lower,sp - 8pts , we're set to open at 2031. Metals are broadly flat. Energy prices are on the slide, Nat'gas -0.9%, whilst Oil -0.4%. Equity bears should be seeking a weekly close at least in the 2020s.
So... we're set to open a little lower, with the first target of the 50 day MA... some 3% lower. Clearly, that is not going to be hit this week.... but perhaps.. later this month.
Anyway... I'm not expecting too much from today. Trading vol' is likely to remain very light.
Early mover, BTU -1.4% @ $10.98... broader target is $5... but that is likely to take another 6-9mths.
Doom chat with Hunter and Turk
More dollar doom discussion, along with the usual insane talk of 'Gold/Silver shortages'..... utter nonsense talk of course. King $ remains... King, and there are enough precious metals for everyone who wants any.
Ohh, and I've no doubt some of you will vehemently disagree with that, but hey... stay short $ and long metals. See how that continues to work out.
9.34am... VIX jumps almost 6%.. but still only in the mid 13s. Tis a long way to go.. just for 15/16s.
9.43am.. Opening black-fail candle on the VIX... should not inspire the equity bears.