Whilst equities have seen some moderate morning declines, there has been notable weakness in the USD, -0.6% in the DXY 96.20s. The break of trend should now be apparent to everyone, and it has important implications for both equities and commodities into the early summer.
Weakness in the USD is notably helping the precious metals - Gold +$10, with Oil +0.8%
*there was a spurious story of the Iranians seizing a US ship.. but that seems to be completely false. Oil has cooled a little from a brief spike high in the upper $57s. The big $60 threshold remains due... with the API/EIA reports due late today/early tomorrow.
notable weakness, AAPL.
A rather stark bearish engulfing candle on the daily chart. It will be difficult to see that flip to a bullish one.. by the close of today.
Maybe AAPL should have posted a net loss like AMZN, or just a 50% miss like NFLX? This remains a TWISTED and sick market where things can be deeply mis-priced.. both to the up.. and downside.
11.27am... Rather significant spike-floor candles on the two market leaders.. Trans/R2K.. both are suggestive this wave from sp'2125 to 2094 was just another minor washout.
A net daily gain now looks probable. If AAPL can turn positive.. that'll really solidfy the turn.