How sensitive are algos to quips from the White House on trade? This is what sent futures soaring early this morning:
That tweet has been deleted. This is what Mnuchin actually said:
S&P futures gave up 13 points on the correction, but are still up 9 points — loitering just above the SMA10 they tagged yesterday — mostly on an interim bounce in USDJPY.
Bears can take heart that VIX held a small TL of support. Though, this also sets up a potential buy signal in case equities have the temerity to decline a second day in a row.
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