Hovering around the flat line.
Markets:
Britain triggered Article 50.
Asia and Europe mixed.
Base metal prices bounced on more upbeat economic news from China after a solid red day yesterday. Seems hope is still in the air.
Three more Fed speakers today.
Mood:
Even better than the Snap IPO: BuzzFeed plans to go public in 2018.
Maybe they should study this chart. Are people abandoning the darling of tech?
Apple is close to completing some multi-year patterns and volume is drying up as it reaches its 11th record this year.
FX:
AUD & CAD stronger, possibly on China news, even as USD rallies. Scandie weakness. JPY & MXN strength. EUR & GBP weaker.
Treasuries:
Prices trying to rally some more, yet the structure from the lows is looking more and more like another ABC. If true, perhaps continued choppy rallies before at least a retest of the lows and possibly even lower (higher yields).
Energy:
WTI crude higher along with NG, which is up 1%.
Metals:
Copper had a nice reversal yesterday but is giving back some. Gold, silver, platinum, and palladium red as well.
S&P Outlook:
Yesterday went a long way to negating the potential for a developing impulse decline in the markets. The NQ rallied all the way back above its 78.6% Fib retracement (but closed just beneath it). The Dow and S&P have a bit more work to do.
Still thinking some sort of ABC.
Potential catalyst one of these days. Not looking forward to it.
Source: USGS |
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