US equities open significantly lower, not helped with the US 10yr %. USD prints a new twenty year high of 112.11, which is especially punishing commodity land.
sp’60min
VIX’60min
Summary
Either we find a floor from around current levels… or things turn mini-crashy into end month. Other than pure technical reasons… there is no reason not to expect the latter.
The only concern for the bears…. Powell, due 2pm, and it might be an excuse for a late day ramp. Again… that is the bulls ‘best hope’.
Either way… this market is getting broadly smashed far… far lower, ahead of the mid terms.
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notable stock: AMD
If the market is to find a s/t floor, we need to see stocks like AMD reverse.
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notable Dow component: AAPL
Still a long way to the June $128s
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notable energy: OXY
Lower with the main market, and WTIC $80s.
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notable miner: FCX
Reflective of the miners… smashed lower, not helped by falling commodities… impacted by relentless upside in king Dollar.