The Fuse
What are futures doing?
Stocks may open slightly higher as ES futures are pushing up towards all time highs. The Nasdaq is already there and leading the charge but may be running out of steam here.
News
More follow-on buying in Europe with STOXX up .5% again, yet Germany and France were off a bit. FTSE unchanged. Seeing weakness in Asia as Shanghai and Hong Kong both down a small fraction. Gold and silver are modestly lower, crude oil now trading under $90, while the dollar was flat. German bund yields held steady, while 10 yr US treasury yields edged lower to 4.6%.
Volatility
VIX continues to run cold, each move up in volatility is being sold aggressively. That is not a problem when the bulls run rampant, other sentiment indicators are not as bullish so there is room to run.
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