US equities remain moderately weak, with the market battling to hold above last Thursday's retrace low of sp'2085. VIX is again not reflecting any real market concern, +1.5%.. still in the 13s. Metals are holding minor gains, Gold +$3. Oil is cooling, +0.3%... after another 8.2 million barrels of surplus.
Well, its typical turn time of 11am... equity bulls really need to show up here.. and drive the market back into the sp'2100s.. preferably by the close of today.
notable weakness, TSLA -3.3%..
.. and most other momo stocks are having a somewhat difficult morning.. such as TWTR, -1.5%.. back testing yesterdays breakout $50 threshold.
11.35am... clear market FAIL... sp'2082... next support is the 2070/60 zone.. where the 50dma is lurking.
11.40am.. market snapping lower.. as the long-stops are being hit...
Certainly.. I'm surprised at the weakness... the one thing that still does not support the bears... VIX... although it is +7% in the mid 14s.... but are we really to get excited about VIX 14s? Has it really got to that?