US equities open moderately lower, but notably.. still holding above the 200dma of sp'2055 or so. USD is holding moderate gains, +0.3% in the DXY 96.40s. Metals are failing to capture any kind of flight to safety/fear bid, Gold u/c. Oil is exceptionally weak, -3.9% in the $54s.
*stockcharts is FAILING to update... hopefully it will not be broken for the whole day. However I can still draw on my charts though!
A relatively subdued open.. considering the news. Are the China govt' trying to buy the US market too?
More than anything right now.. VIX has rapidly cooled from the open. No doubt.. the opening candle is now a giant black-fail.. with an opening spike high of 18.95.... now 17.50.
We saw a sig' 20pt upward swing last Monday though... and that day didn't end so well for the bull maniacs (sp -43pts).
notable weakness: CHK -2.9%, BTU -7.5%... energy sector naturally having serious issues.
strength - airlines, DAL +0.5%, UAL +2.8%
Long day ahead...
PMI service sector: 54.8... a touch weak... but broadly... favours the bulls
ISM service sector: 56.0 , market was seeking 56.0.. again.. and something for the bulls.. esp' in terms of GDP projections.
10.06am.. So err... who wants to go long at sp'2066?
Thats right, I didn't think so.
Uber bull... Mr Lee makes an appearence...
It still amuses, Lee was most upset last week at one of the lunch time analysts who said he is never bearish, lol
10.24am.... sp -7pts... 2069... almost a full gap fill.... latter day weakness.. BELOW the morning low looks due.
notable weakness, Seagate (STX) -2.4%...
10.31am Stockcharts.com remains broken.. and its starting to annoy me.
sp -5pts @ 2071.
Typical turn time remains 11am..... and I would imagine we'll roll lower from there.... much like last Monday.
10.46am.. Hell... indexes flat/turning positive. I expect a bounce - like last Monday, but even this is starting to surprise me. VIX confirming... -0.7% in the 16.60s, a full 2pts from the opening high.
Regardless... 11am remains a usual ceiling