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Large Sell-Program on Cash Open

EQUITIES
S&P eminis trading weaker but off lows after the cash open, ESH2 -65.0 at 4325.00, order desks noted large 1,897 name sell-program on the cash open.
  • Geopol risk tied to Russia/Ukraine jitters spurring risk-off tone, intermediate-long end FI markets well bid, short end anchored ahead Wed's FOMC.
  • Latest earnings cycle ongoing (appr 30% of S&P reporting) , tech-heavy docket on week w/IBM, Intel, Microsoft and Tesla..
  • Technicals: ESH2 bounces off session low of 4311.75 (1st support, 4311.0 Oct 12 low) currently at 4327.0. Second and key support: 4252.75 Oct 1 low.

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