S&P E-mini Futures:
Employment data at 8:30am NY time. NFP payrolls. Traders seems to be flipping out because unemployment could fall to 5.2% (& cause a September rate hike).
Europe is down hard, much of it over 2% lower.
AUD & CAD weak. JPY stronger amid carry trade stress (stress causes carry covering which strengthens the yen). USD JPY has gotten into the equivalent area that I was fearful of yesterday in the S&P.
Pushing higher ahead of NFP number.
WTI crude remains firm. NG down 1% but still tucked inside a tight range.
Gold and silver dripping once again.
Could not risk it yesterday while working hard on the September Vogue writeup. Dumped my calls in the morning with a solid gain but left a lot of the table too. No worries. It was not an impressive day.
Europe seems to agree.
The area below 1903.07 still looks vulnerable, and as noted above, USDJPY got in there.
My gut is still telling me to expect more upside, but I will hold off on speculating (actually hedging) on higher price until the next setup occurs. That could take place sometime this morning, or not. There is simply too much event risk at this moment with NFP up soon to make a call.
For real-time action, there is social media.
Picked up a key data point in this Bloomberg art world story.
"Global auction results in the first half of this year slid 5.8 percent to $8.1 billion from the same period in 2014 because of weak sales in China, the U.K., France and Germany, according to New York-based Artnet."
As mood is slipping, so too are art sales.
Hitting the publish button and shifting to the Vogue post right now. Almost finished . . .