10am update - opening weakness

US equities open moderately lower, but aside from the Trans (-0.5%), the declines barely rate as moderate. Renewed strength looks due into Wednesday. Metals have swung lower on the latest CPI data, Gold -$2. Oil is a little higher, +0.2%


sp'60min

Trans, daily

Summary

Interesting continuing declines in the Transports.. testing rising support, but other than that... equity bulls have little to be concerned about.
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*Richmond fed, -8.... not great.   New Home sales @ 539k... above expectations.
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Notable strength... momo stocks.. TWTR +4%... breaking into the $50s...

NFLX +3%