9:13 AM CT - I added the move on nautical chart to present how we're trading inward a hit so far today, amongst book edifice betwixt 1167 together with 1169 together with the value-weighted average toll at 1168. Cumulative Delta is real modestly positive on the twenty-four hours so far; NYSE TICK is mixed. Note how nosotros proceed to run across sector rotation: the sectors that convey been relatively weak of slowly (commodity-related sectors, wellness care) convey caught a bid today; the sectors that convey been stronger (consumer discretionary, financial) convey seen some selling. Overall, that keeps us inward a range.
We're seeing stocks trading inward a multiday range, amongst resistance inward the 1170 expanse together with back upward to a greater extent than or less 1160. We're likewise seeing a weak USD together with theatre commodities; I'll live on looking to some of these intermarket relationships to handicap the odds of a intermission from the trading range. Note likewise that Russell 2000 stocks are continuing to underperform the large caps--another human relationship I'll live on watching inward early on merchandise today. I'll update this postal service subsequently inward the AM.
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