Friday -- Sweating In Fashion

S&P E-mini Futures:
Recovering after overnight sell off.

Markets:
Red across much of Asia and Europe. China, Singapore, France, and Germany the sole greens.

U.K. House Prices Fall for First Time in Almost Two Years

Obtuse Headline Of The Day -- RBS CEO Says Bank Would Move to England on Scotland Independence

The Royal Bank Of Scotland would no longer want to be Scottish.

Three more Fed speakers today. Dudley may have rocked things last night when he went into detail about "balance sheet reduction." Dudley is up again today, along with Kashkari and Bullard.

Mood:
Socionomics observes that during positive mood periods people tend to work out and show more skin.

So what does it mean when people want to work out in style?

Canadian luxury lifestyle brand Dsquared2 recently opened the Ceresio 7 Gym and Spa gym targeting health-conscious fashion fans in Milan, Italy.

"Dsquared2 lets loyal customers experience a new level of exclusivity and ensures its brand identity is displayed all throughout its new health club."

A new level of exclusivity . . . for sweating. Ebullient mood continues.

FX:
Quiet thus far. CAD, MXN, and NOK weaker.

Treasuries:
Stall speed.

Energy:
Ho-hum for WTI crude while NG tacks on another 1+%.

Metals:
Palladium the only green once again.

S&P Outlook:
Dow lagging, NDX 100 leading. Looking more and more like a rally to new highs. If not, virtually certain that it's still just a correction. The idea of a top has been severely discredited.

The gap at 2377.40 is still a target, perhaps into Monday or Tuesday's new quarter fund inflows if prices pull back today.

Getting below 2340 area would probably warn of more correction.