Modestly higher yet fading from best levels.
An alternate take:
"Lagarde Says Globalization’s Benefits Need to Be
On of the oddest observations noted in The Socionomic Implications Of September Vogue: 2016 was the postscript regarding all the kittens in the issue.
It gets weirder.
I had no idea why there were so many. Now thanks to Popular Japanese Instagram cat inspires a stylish shoe collection there may be an answer.
A cat with 180,000 Instagram followers and its own shoe collection echoes the sentiments expressed in the September Vogue analysis: that the Instagirl Instamodel Insta thing may be peaking soon.
The Facebook (Instagram's parent company) should be watched closely here. There is a higher Fib extension target at 135.43, but it seems "the pattern is full."
Messy today. No clear direction for risk appetite.
Turning up from yesterday's lower volume lows. Those lows could be near-term tells for possible Risk On if prices move higher with appreciably more volume comparatively.
WTI crude heading down while NG heading up. Unless 43.84 fails on crude it could still reverse.
Gold probably needs below 1305.50 for the correction to continue. For silver that is 18.44. Copper weakness remains the larger tell in my opinion.
Yesterday's intraday TRIN reached a stunning 5.91. That's some fear. So it should not surprise to see a bounce. The 3-day TRIN could still move higher, so a bounce could come from still lower levels, but the message is that yesterday freaked some people out after Monday's V-shaped recovery.
There are a cluster of Fib targets in the 2103.25-2094.55 zone. There is a 78.6% Fib retracement at 2173.16 and a gap and volume shelf sticking out at 2181.30.
However, it feels like the market would be happy to just get back to the 2160 area if it chose to bounce.