The Fuse
What are Futures Doing?
Stocks are indicated higher again this morning as futures are modestly higher. This could be an historic day/week with the indices closing out at all-time highs (IWM, SPY, QQQ). Stocks have been on a roll but are overbought and could retreat anyday.
News
STOXX in Europe was flat but did have small gains in France and Germany. FTSE was down .1%, the US dollar index again flat, crude oil down sharply, more than 3% while gold and silver are bid slightly. Yields are calm, in Germany the bunds up 1bp while in the US the 10 yr treasury yield down 1bp. Over in Asia Japan gave back some recent gains, off 1.8% with Hong Kong down 1.1% and Shanghai barely lower.
Volatility
The VIX has been a side story but important to the market trend. As VIX falls and volatility sellers get active there is less worry about the market going down, hence any dip is being bought up aggressively.
If you are an existing Market Blast or Trader’s Pass member, log in here:
