The selling started as Europe opened last night and despite a few pull-backs
to VWAP, has continued all morning. S&P 500 futures have crossed the chasm
and are heading back to new cycle lows here as the major financials are
being sold aggressively on the back of tomorrow's release of the NY
Fed's Libor report (among other things we are sure) and have given
up all their post EU-Summit gains. USD strength, commodity weakness
(with Silver And Gold leading the charge lower this week now) and Treasury
yields back to yesterday's post-auction spike lows. VIX up to 19.5% and
correlation rising very systemically.
S&P 500 futures broke initial support and are teetering on the brink here...
as Financials give up all their post-EU-Summit euphoric gains...
S&P 500 futures broke initial support and are teetering on the brink here...
as Financials give up all their post-EU-Summit euphoric gains...
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