Good Monday Morning NY.
- EURUSD (1.2408) + 0.51%
- Gold Futures (GC) solidly over 1600 ($1625.60) + 0.33%
- Oil Futures(CL) + 0.68%
- S&P Futures (ES) + 0.19%
- CAC40 +0.75%
- FTSE + 0.33%
- Asia (NKD) + 0.11%
- Corn Futures (ZC) + 0.55%
- Copper Futures (HG) + 1.65%
- VIX: Yesterday’s Close 14.03
FOMC Minutes released at 2:00 pm EST
The market feels very green this morning, yet I’m surprised by a few things.
- The near complete reversal of copper after yesterdays plunge (chart).
- The strength in the Euro (strong Spanish Auction)
- And silver’s ongoing strength
I’m equally surprised by the strength of the CBOE index put/call ratio (here). At 1.64 this is at an extreme level. It’s been LOWER 96% of the time over the last year. In other words lots of insurance was bought during yesterday’s session.