Everything begins to turn
Oil might have been an early tell. It was holding up well earlier and now it's higher oil the day with WTI up to $72.74 from a low of $70.76.
The bid in bonds also faded even as US stocks were making new lows earlier. The 10 year yield is now flirting with 1.30% again after falling to 1.25%.
Of course, the dip buyers in stocks don't need much incentive either. The S&P 500 is down 36 points to 4321 from a low of 4289. We're into the opening gap now.
I get the sense this is a market that's digging deep for a reason to hit the panic button but just can't find it.
It's the same story in FX as USD/CAD falls to 1.2530 from a high of 1.2590 and the dollar showing life against the yen.