After opening moderate declines, and another lousy PMI number of a recessionary 46, the market is already rebounding. Regardless of the close, its already been a failed morning for those in bear land. Metals are holding minor gains, Gold +$3. Oil remains weak, -1.1%.
*daily candle is already offering a spike floor on rising trend...
It is getting tedious again... and this mornings opening weakness is making for a mere retracement of the strong Monday gains.
Sure, we'll still close the month net lower, but does it matter?
Notable weakness: oil/gas drillers, SDRL -3.5% in the $9s.