10am update - no downside power

US equities open lower, but there really isn't any downside power right now, and the sp'500 has a high opportunity to close moderately higher in the low 2100s. USD is cooling, -0.5% @ DXY 95.80s. Metals are battling to build early gains, Gold +$2. Oil opens lower by around -1%, but looks set to turn positive.


sp'60min

VIX'60min

Summary

So.. we're off and running...

I am well aware some are out there screaming for much lower levels in the immediate term (not least with Greece on the edge)... but price action sure doesn't support the notion that we'll be go any lower than sp'2085.

Equity bulls should be able to drag this market higher into the next FOMC.. if not 2-3 weeks beyond it... all the while.. as the USD cools to the DXY 92/90 zone.

Things are setting up rather nicely in the 'big picture'.
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notable weakness, airlines, DAL -2.9%, UAL -3.9%

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King O' is due to speak at the G7.... and it looks like clown finance TV will be giving him all the coverage he wants.
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