11 of the 16 Asian markets we track closed in the green overnight, 17 of the 19 bourses we follow are trading significantly higher in the European session, and the U.S.'s major averages are having quite the morning so far: Dow up 436 points (1.60%), S&P 500 up 1.48%, Nasdaq up 1.41%, Russell 2000 up 1.66%.
The VIX (SP500 implied volatility) is, interestingly, up 0.45%. VXN is up 0.23%. You'd think the price of implied volatility in options contracts would be tanking on such a rally. Hmm....
Oil futures are up 0.32%, gold's up 0.42%, silver's up 2.16%, copper futures are up 0.85% and the ag complex is down -0.44%.
The 10-year treasury is (surprising like the VIX) is flat and the dollar' taking a hit, -0.44%.
Our core portfolio, led by banks, financials, industrials, the Eurozone and energy is up 1.03% as I type. Our only loser on the session thus far is our ag commodities ETF.
Recall that in Saturday's video I mentioned that 3,350 could offer up some stiff resistance for the S&P 500. Well, we got there in a heartbeat, and indeed that's where the bulls and bears are tussling this morning:
Like I also said in the video, big moves in either direction would not at all surprise me right here, but, again, the ice is presently very thin.
Have a great day!