So far there haven't been an special surprises in trade, overnight trade looked like it was going to be a stronger day, but a rising $USDX nipped that in the bud this morning.
Very short term (intraday) there are 1 min positives in the Index futures and 5 min negatives, this falls right along the lines of expectations from Friday that today would be another noise day within the overall trend starting at the 10/9 lows with a chance for a head fake move.
Leading Indicators thus far (admittedly early) show HYG and JNK credit underperforming; HYG never recovered from the negatives that started building on 10/18. Sentiment Indicators are both underperforming, the VXX is outperforming and still looks like it's putting together a healthy base, including VIX futures and Commodities are underperforming.
Other than that, so far there hasn't been anything standing out as uniquely interesting, it's more or less what I imagined on Friday as we flop around the Friday close, a bit below or a bit above. I will say some of the short term 3C intraday signals are looking pretty good for the IWM so that might be something to keep an eye on, otherwise my update would really be, "Not much happening".
5 years ago
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