2 hrs to go.. NASDAQ comp and NDX have both just slid under last Friday’s lows, while S&P remains partially above. Markets which had started out flat for most of the day have begun to turn down, and breadth shows slightly more declining than Advancing issues. EEM also lower by .0.57% with DXY rally continuing.. Key will be ability of S&P to hold 2659, as if SPX starts to join the weakness in the NASDAQ, then markets likely will begin to accelerate into the close. 6 sectors positive, but only Healthcare and Telecomm up greater than 0.50% and no sector down more than 0.35% with Tech dragging the most with pressure yet again out of Semis, and SOX down more than 1%- SOX by the way, has also violated April’s lows as of 2pm, so this is putting pressure on Tech at large and as a leading sector, has many concerned.. Yields fractionally higher in US.. While a larger move out of Europe with Bund and Gilt yields up more than 4% up to 8% for UK, GILT, and 10yr Bund yields. Durables showing some pocket of strength today.. W/ HBI, UA, KORS, MAT, RL, HAS, TPR DHI, PHM all up more than 1%., whereas the Miner weakness has continued with Dollar strength.
SOX- HOURLY chart