11am update - same old nonsense

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%.


sp'60min

sp'daily5

Summary

*daily candle is already offering a spike floor on rising trend...
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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?
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Notable weakness: oil/gas drillers, SDRL -3.5% in the $9s.