As futures opened last night, it was all looking so bright as the ‘rebound’ extended and every knife-catching “in it for the long-run” manager was proved ‘right’. Then Eric Rosengren pissed in the punchbowl – explaining QE will end in October “unless somethinh dramatic happens” – somewhat taunting the market to crash to ensure the Fed keeps the party going. Markets leaked lower and then came Big Blue which slammed futures lower. Oil prices are falling once again this morning, ECB’s bond-buying was a disappointment, and USDJPY’s fundamentals hit an air-pocket. Having retraced perfectly 50% of last week’s losses, the S&P 500 is fading at the open…
Rosengren started it… IBM didn’t help…
and Oil weakness is not helping…
Of course its all about fun-durr-mentals….
Charts: Bloomberg
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/CEpuoJmSq4A/story01.htm Tyler Durden