10am update - less fake than this market

US equities open moderately lower, but market action will likely remain choppy until the Yellen has appeared. Metals are mixed, Gold +$3, with Silver -0.1%. Oil is -3.2% in the low $38s, and that is really pressuring the oil/gas drillers, with RIG -6% and SDRL -10%.


sp'60min

VIX'60min

Summary

Cyclically, I am not liking what I am seeing.

We're seeing a little weakness ahead of Yellen, and by 12pm, the hourly MACD cycle will be offering another push higher across this afternoon.

Just consider that TVIX is only +1%, with VIX still broadly subdued in the 15s.
-

Eyes on Oil, as that is clearly still steering the main market.
--

notable weakness... FCX, daily

Again, it remains highly notable that any time the market is just a little lower, the 'junk' stocks get smashed.
--

As for fake...

yours.. a fan of million dollar man, Ted DiBiase.

--
time for some sun... before the spring storms.