Bouncing around the flat line with slight upward bias yet weak.
News:
Red and green across the world.
Equities red, bonds green. It's getting messy.
Bonds are not being used for upside price speculation as they have for much of the three decades since their generational lows in 1981. They're being used for safety at the moment.
It's a big deal when the FBI begins aiding Wikileaks.
FX:
Shortly after the equity markets opened yesterday, JPY surged in strength to join its Swiss safe haven cousin in warning that things were about to get nasty. It did not disappoint.
Same for this morning thus far, JPY & CHF stronger.
The USD did however. It has corrected hard yet not with the same amount of force it had while rallying.
Treasuries:
Bouncing along with their sovereign peers, yet not looking as enthused as one would expect.
Energy:
WTI crude and NG racing each other lower into DOE inventory readings at 10:30am ET. Lots of product still being reported. Will see what DOE says.
Metals:
Gold and silver bid while platinum, palladium, and copper sit out
S&P Outlook:
Was way wrong -- the S&P surprised to the downside. Right into the 2103.25-2094.55 zone that I had gotten so tired of typing each day.
The only inkling of the surprise was the possibility of "b" being complete and not needing another rally.
Wave 2 could be close by if 2050-2070 holds. TRIN showed no fear at all yesterday. A bad sign for bulls.
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