10am update - the latest IPO hysteria

US equities open moderate higher, with the sp' hitting 2113. The USD remains in cooling mode, -0.6% @ DXY 93.70s. Metals are naturally pressured upward, Gold +$14, back above the $1200 threshold. Meanwhile, fitbit (FIT) is set to be listed at the NYSE... the hysteria resumes.


sp'daily5

UUP, daily2

Summary

*there is a great deal going on this morning.. hard to decide what to highlight.
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USD is now within 1% of target zone of DXY 92/90... and metals are similarly pretty close to maxing out before the next wave of horror.. which if correct.. will bode badly for the related miners.
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Meanwhile of course.. the NYSE is focused on the latest IPO hysteria stock... FIT

I would not be surprised to see it close with a spiky black-fail candle... which is usually a major warning of trouble for subsequent weeks/months.
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notable weakness, oil/gas drillers, RIG/SDRL, both lower by around -1.7%... as energy prices are moderately mixed. Once the USD floors and starts rising.. things will likely get real tough for most energy stocks.
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10.21am.. New historic high of 1280 for the second market leader - R2K.


10.26am.. VIX crushed in the low 13s.. approaching target zone.   Hmm