US equities open broadly higher, with the sp +15pts @ 2058. VIX is naturally continuing to cool, -8% in the 19s. There are notable gains in the metals, Gold +$12, with Silver +2.8%. Oil is -1.0%, ahead of the EIA report.
It is notable that from a pure cyclical perspective, the hourly setup will favour the bears this afternoon.
Of course.. it is fed day, and arguably, normal rules could be over-ridden by the decision from PRINT HQ.
notable opening reversal
The opening black-fail candle sure ain't pretty. Ironically, far from leading the market higher, DIS is warning of trouble right now. However, I continue to like X-wings. If the market breaks into the sp'2100s by late Friday, I would imagine $119/120 is just about possible.
Clearly though... a strong initial rejection from the gap zone of 115/117.
time for some sun... and to shop.
10.31am.. Oil inventory surplus 4.8 million.... Oil reacts.. -1.8%
Equities cooling... with DIS set to turn red. Hmmm