US equities are rather powerfully lower, as bounces are STILL being sold into. The sp’4000/3800 zone appears realistic within days.
sp’60min
VIX’60min
Summary
A bounce… but its been fully reversed – from first resistance of the hourly 10MA, as we’re set for rather fierce declines. Yours truly is content to sit back and wait for 4000/3800. Many of my targets are already at VERY attractive levels, but I see no hurry.
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notable stock: IBM
IBM has earnings in AH. A company ‘lost at sea’ for many years.
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notable weakness: F
Ford appears to want to tag yellow gap… with the 200dma.
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notable steel: CLF
Horrific, as the $12s look a threat.
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notable miner: FCX
Freeport showing no real sign of a floor. Maybe the Oct’ red gap?
back at the close…