We had a small bounce when bonds closed (which is when they like to start the pm rally), but it didn't last.
For months I have noticed how the indices rally defying gravity on every selloff. Today for the first time they took TA out the window......about time.....
Wow! HPQ up 6%. And the S&P futures are down a tick. NASDAQ futures down a point. Who cares about HPQ?
institutions sold the big contract early after the cpi news and then kept selling after the open ----------- they must have been worried about something {time to start hedging those equities}. they were not on the liquidity pumper buy programs today either ---- if tomorrow has bad ppi & oil numbers we will get some follow through propelled by heavier equities selling ---- the close below 1224/25 for the es was not good. maybe tonight they will try a midnight rally? oh wait, the dax will probably continue its dive and the nikkei is due for a ringing of the till.
and the ppi this morning was ugly ---------- dax was as low as -41 overnight, tough to have a rally when the eu market is weak.