evening wrap

market vibes

October 15… ) 

“Things you can never be.” The Duchess of Windsor

*ISRAEL DOESN'T PLAN STRIKES ON IRAN OIL, NUCLEAR TARGETS: WAPO via BBG 

Oil falls $4.00 on the session. A gap lower tomorrow would be quite negative.  

In the stock market  

Another up day on flat OI and declining exchange volume goes into the book. To my eye, this is the new world of 99.999% algorithmic deployment calculating the minimum dollar value of buying needed to maintain a marginal positive excess in the auction via box to box through the session. There is no one there, just the humming fans in the rack cooling the servers. I doubt volume will be so low if prices decline.  

NVDA was the #2 on the most active list behind a bio tech surprise that rallied 300% to just over $1.00. Apart from that, NVDA is still the workhorse pulling the cannons.  

The VIX finally broke 20.  

Long bonds fell nicely on trend, steepening the curve on stunningly low volume and rising OI. Shorter dates trade in a more horizontal fashion. OI fell apace in 5s and 10s. Two-year notes did nothing.  

in other markets