US stocks opened lower but see some early buying

Technical Analysis

Author: Greg Michalowski | sp

Major indices down around -0.3% to -0.6% in early trading

the US stocks opened lower but are seeing some early buying.  A snapshot of the market currently shows:

  • S&P index -16.7 points or -0.43% of 3836.20. The low reached 3833.24
  • NASDAQ index -42 points or -0.31% 13489.30. The low reached 13463.66
  • Dow industrial average -175 points or -0.56% the 31002.92. The low reached 30953.18.
A snapshot of other markets as US stocks started trade shows:
  • Spot gold, $-30 or -1.6% at 1840.25.
  • Spot silver $-0.71 of -2.72% at $25.23
  • WTI crude oil futures are down $1.11 or -2.09% at $52.03
  • Bitcoin is up $1060 or 3.39% at 32260.22
in the US debt market, yields remain lower and the yield curve has flattened, but yields are off there low levels as well.

US yields are lower In the forex, the US dollar and EUR remains the strongest of the majors, while the NZD and AUD are the weakest.  The AUD has seen a modest rebound off it's low. The USD is a little stronger from the early session highs. The GBP is lower from the NY session start. 

The GBP is getting weaker
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