sp'60min
VIX'60min
Summary
*I will cover the metals/miners in next hour. Suffice to note.. another wave of an ongoing retrace appears underway.
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As for equities, with a long weekend ahead, there is little realistic hope for the bears.
Best guess... further upside (despite lousy inventories) in oil to the $43/44s.. and that should result in an equity exhaustion top.. somewhere in the sp'2060/70s.
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notable weakness... GDX, daily2'
That sure is one ugly open for the miners. A retrace to the low $18s looks due by next week.
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back for the oil report at 10.30am.
10.32am.. EIA.. 9.4 million barrel surplus... another monstrous weekly number.
Oil is holding around the early low of -2.0%.
Equity price action suggestive of a rebound.