There's divergence among indexes today with the large cap indexes making a lower low and yesterday's lows in mid-cap and small-cap indexes intact. None of the indexes has managed to conquer the AM high by the close.
The rebound from the low of the day is a three by the close in cash indexes. The wave structure in futures also offers a bullish possibility of a 1-up and 2-down setup. But the market still needs to deliver.
Stocks are trading inversely with oil - although with less sensitivity today - is the sticker shock wearing off already? or irrational/rational denial? WTI rose above $102 today.
[1110am] New low in USD index -
[740am] Overnight update (ES) -
