Overnight.
Dow Jones +0.28%. SP500 +1.5%. Nasdaq +3.34%. Small Caps +1.72%. Banks -2.12%.
Nasdaq performed an extra-ordinary feat last night, down about -3% at the opening it finished up >3%.
SP500.
SP500 staged a great rebound last night but remains below major resistance at 4300 (round figures).
The may well be the start of a counter-trend rally, but overall bearish conditions remain. I'll assume this is nothing more than a counter-trend rally until we see bullish conditions prevail.
Commodities.
Commodities saw a big upside opening bid but sold off during the session. Commodities Index +0.42%. Energy +0.29%. Base Metals +1.81%. Gold -0.65%.
Iron Ore -0.8%.
We should be positive today but I'm not expecting anything of the magnitude of the Nasdaq.
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