I'd love to see some confirmation from the internals!
The early morning action continues to flicker and my eyes haven't been this active since I sat on a beach in Ibiza!
A couple of things stand out in the initial action. The semis are strong out of the gate and that's giving the Nazz a relative bid. Breadth has yet to confirm the upside (negative in both sectors)and the financials are lagging (most important group). Meanwhile, the dollar is a bit firmer, gold continues to slip and oil is down marginally.
There was some chatter this morning of forced selling out of Europe but, obviously, I have no edge in trying to game that. The first half hour is always noisy as the pre-market whippage gets unwound--now the HARD trade is upon us. Fun stuff, right?
Keep that right hand up.
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