10am update - opening shaky gains

US equities open a little higher, but the gains are a little shaky, as underlying price pressure is still leaning to the downside. VIX remains broadly subdued, fractionally lower in the 15.90s. USD is notably higher, +0.5% in the DXY 93.60s. Oil +3.4% in the $45s.


sp'60min

VIX'60min

Summary

*Fed official Bullard -the bane of the equity bears, is talking around lunch time, and Mr Market will be listening.
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The opening minor gains have already almost faded... but price action remains pretty subdued. A break of yesterday's low of sp'2045 looks unlikely today.

Best guess... a fractionally higher/flat close... with another break lower - into the sp'2030s - with VIX 17/18s tomorrow.

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Meanwhile... Cramer is a little twitchy that the BDI has fallen for the past four days.

Ironically, this is the same guy who has been interpreting the recent rally in the BDI as a super bullish sign for the world economy. Maybe someone needs to show him a 10yr chart for some perspective.

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notable weakness... FIT, daily

Earnings were lousy, an ugly stock, almost one year old, FIT looks set to break the Feb' low of $11.91.. and eventually sub $10.

yours.. not wearing an electronic step counter.