sp'60min
sp'monthly2b
Summary
*overnight low, sp -43pts... 1837.
This is a decisive 1% below the Friday low, and absolutely trashes any hopes of a short term floor.
Instead, the door is wide open to a straight move to the 1750/25 zone, here there are multiple aspects of support. Again, I'd refer anyone to the Jan'2008 candle on the 'Guppy' chart. A similar move right now would be to the 60 EMA, in the 1730s.
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early movers...
AAPL -2% @ $94s
BAC -3.7% in the $13.70s.. as hopes of another rate hike vapourise.
DIS -1.9% @ $92s
SDRL -11.8% @ $1.87... also on the 'disappear list'.
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GDX +2.2%.. as Gold catches a temporary fear bid.
NFLX +3% @ $111 on earnings, but well below the AH high of $123
TVIX +12% @ $11.88
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Doomer chat - Hunter with Williams
As ever.. make of that, what you will, I sure don't agree with any of the 'dollar doom' comments. Williams is much like Schiff, very inflexible, both of whom have touted the collapse of the USD for over a decade. Ironically, the USD increasingly looks set to further strengthen, as the ECB and BoJ print to oblivion.
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Overnight market action...
Japan: -3.7% in the 16400s
China: -1.0% @ 2976.
Germany: currently -3.0% @ 9371
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Have a good Wednesday
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**awaiting CPI data...
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..ohh, and IBM -5.0% in the $121s is not helping the market mood either. Maybe they should just buy back more shares, that will solve the underlying problem, right?
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8.57am. .We're off the lows, but still, sp -29pts.. 1852.. and that certainly breaks the Friday low.
Mainstream are getting spooked.
Equity bears should look for VIX 31s to confirm that 1750/25 zone is coming BEFORE the FOMC.
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9.04am... Ray Dalio, aka.. Mr QE4 (remember the Bloomberg interview?) is in Davos, touting some 'depression' doom.
Q. Will the Fed launch QE4 when sp'1600s?
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9.37am.. and there goes the Friday low.... there is no real sig' support until 1750/25 zone.. which is clearly viable before end month.
VIX is a little lackluster.. +8% in the 28s... equity bears need 31s to confirm.