Maintaining the rage from Friday night for me, the markets continued to get hit. Some pretty good moves in the APAC.
Maybe not that bad, as it is still in a week long window of vulnerability, yet they are moves to be respected.
Pure luck nailed the low so far (it is lower off screen 7112, I nabbed this about 7114). Active flows. Structure visible (the high, the pivot point - Sat morning (= Friday US) close.
The SPI cushioned the cash open, which reflected virtually all of the Friday selloff in the US. A small bounce, which was quick, got sold off, and that repeated a few times as new lows were made. The Nikkei seemed to react in a similar manner, so risk off for indices.
US futures were slightly positive on the re-open, and then gradually faded. Got hit a bit just before lunch, and stayed weaker after that, down about 0.25%. Gold and silver up strongly, about 0.7% (gold same as silver). Crude oil also up strongly, over 1%. So there is no theme to this - in that the commodities and precious metals (flight to safety or inflation deflation trades) are being bid v Friday/Thursday last week, but indices are continuing to get hit.
The US T continued up strongly too. Someone was correlating a 2% yield and the Nikkei, but I have no knowledge about that relationship. I could have shorted the Nikkei this morning ignorant of it and it not affect... (More)