S&P E-mini Futures:
Down hard, again.
News:
China data spooked once more, crude oil is flipping people out, and Korea has gone nuts, having successfully tested a miniaturized hydrogen nuclear bomb -- you know, like a suitcase.
That's probably the fear, anyway.
Another Chinese yuan devaluation is sticking to export countries.
FX:
Watch the yen, which for now has more bets against it than the yuan could dream of. USDJPY below 118.055 could become a rather large market problem (though it seems to be firming today).
Commdolls AUD and CAD down.
Treasuries:
Rallying, but not seeing the volume yet. Guess we've got all day.
Energy:
WTI crude probing fresh lows as expected. NG slightly lower.
Metals:
No safe haven bid for gold, only slightly higher. Silver and copper down.
S&P Outlook:
Yesterday bounced to a nice Fib area -- just short of the 38% -- which is weak. For it to sell off hard afterward targets the 1960-1970 area, but also brings a 1:1 Fib extension target at the 1935 area that could ruffle some feathers.
Failure to reach the full extension, coupled with persistent divergence on the daily Advance/Decline line could bring a large upside reversal.
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