The buying started at 11 am ET
The early blues in US equities have faded and now the S&P 500 is up 37 points to 4344. It's an impressive turnaround to start the new month.
At the open, the index fell through the September low but the hourly chart shows the quick turnaround.
It's still a long ways to recoup this week's losses but the dip buyers are showing some life.
In terms of FX, there's not a big move to go along with this but AUD, CAD and GBP are all near the highs of the day.
USD/CAD is now lower on the week as the loonie outpaces USD strength on the relentless commodity bid.
