sp'daily5
GLD, daily
Summary
*USD is -0.55%, and that is no doubt helping the metals get an extra kick higher.
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So, we're a little lower. At best.. perhaps sp'2020/00 zone.. but in the scheme of things, is that really anything to get excited about?
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The move in the metals is pretty bizarre, not least after overnight action. No doubt right now, most of those short across the weekend have been stopped out.
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notable weakness...
FCX -2%.. testing the low from summer 2013
DRYS -3%... sub $1 looks viable... ugly.
Coal miners.. BTU -2%.. with BTU breaking new multi-year lows.
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VIX is +9%, but still.. only in the mid 14s. Even a brief test of the key 20 threshold looks damn tough.. even if the market can manage to go sub sp'2000 for a few days.
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10.01am.. ISM/PMI manufacturing.. come in 'reasonable'...
sp -12pts @ 2054... still...just 'moderate' declines.
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10.11am.. Oil/gas drillers seeing major declines...
SDRL.. -4%... in the 13s.
RIG -3%.. set to lose the $20s.