10am update - opening weakness

US equities slip moderately lower in early trading, but as usual, there just isn't any sig' downside power. USD is building gains for a third day, +0.2% in the DXY 95.40s. Metals are a touch higher, Gold +$1. Oil is holding gains of 1.2%, ahead of the EIA report at 10.30am


sp'60min

Trans, daily

Summary

*once again... Trans remains especially weak.... arguably, any move <8500 would be a major problem. Best guess... a break >8800... along with sp >2140s by end month.
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A pretty quiet open... we should see some more dynamic action this afternoon with the FOMC minutes (2pm).

notable weakness, airlines, DAL/UAL, both lower by a very sig -4.5%

strength: YHOO +3% in the $42s... but looking very vulnerable
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stay tuned


10.01am.. Trans -1.1%... 8580s.. this is getting pretty close to the border

Huge sell side vol' in the airlines...  UAL -5.2%.... getting ugly