US stock index futures are falling. ES is being supported by the weekly pivot at the moment. This is the 1327 support that I mentioned as a pivot for the continuation of this latest bull leg. I doubt it will hold. The only reason it is holding is due to NQ buoyancy after BIDU and BRCM reports. Do not short NQ I say, do not short the leader.
UPS reported this morning. CEO said that company's economic outlook is "a little muddier". I am really starting to think that world growth will be a problem in 2nd half. They (CEOs) just do not want to say it in the open yet.
Oil decided to dive 2 bucks from session high. Not sure what is going on just yet, but usual risk off with equities would suffice for a reason. $100 is still a brick wall.
Gold went to sleep for sure. It is ignorant to anything here. What a strong bull it is. Leave the sleeping giant alone...
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