The Schrodinger (Non) Market Gets Extra-Schizophrenic

Tyler Durden's picture

With US equity markets closed for the second day in a row, we remain at the whim of either wishful-thinkers on TV or pragmatic realists looking at other markets for clues. Guessing at tomorrow's cash open (or this evening's futures open) is a coin-toss. Gold's move today implies stocks open down around 1%; Treasury Futures imply stocks open down very modestly; the Canadian equity market indicates stocks open up around 1%; and EURUSD (and EURJPY) suggest equities open down slightly from this morning's closing level of 1411.25. So take your pick - up 1%, down 1%, or unch? Or all at the same time as the algos go full Baumgartner. S&P 500 futures will re-open at 1800ET.

Gold suggests that S&P 500 futures limped lower all day - ending back below 1400...

 

But Oh Canada suggests S&P 500 opens up around 1%! (though we will have to se if the last minute ramp or dump occurs to reset things to normality)... This is a 2% rally off ES lows yesterday!!!

 

and EURUSD (and EURJPY) suggests S&P 500 futures limped lower after a modest pick up into Europe's close...

 

and Treasury Futures suggest a modest decline in S&P 500 futures also...

 

 

So - for the S&P.. Gold says big down, Treasuries small down, FX small down; and (drum roll please) Canada says big up...

Charts: Bloomberg