15Oct10:36 amEST
Chicken Teriyaki Boy Morning
It looks as though equities are eschewing sushi for the more domestic chicken teriyaki, ignoring the strength in the Japanese Yen for the meantime as we bounced at the open.
As I write this, the Yen is pushing higher yet, which makes the bounce attempt in stocks all the morning intriguing to see if it holds.
On the IWM, ETF for the small caps, below on the 30-minute chart, Members are still keying off $113.70, just above, as we lost it yesterday after losing $115 the day before. Having these levels in mind helps to keep perspective in a gapping market filled with whipsaws intraday. If we stay below $113.70, then I would think the Yen strength will eventually come home to roost.
In addition, NFLX is back down to the all-important $100 battleground, where I suspect dip-buyers will be a touch early in trying to buy the sell-off, post-earnings.