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Sharply Lower Ahead Cash Open

US STOCKS

Stocks sharply lower -- appetite for risk evaporated overnight as Russia invades Ukraine on multiple fronts. Safe havens well bid: Tsys near highs (30YY 2.1646 (-.1295), Gold topped $1973.0 -- appr +65.0 earlier, WTI crude +7.50 +7.40.

  • SPX Eminis currently trading -100.25 points (-2.37%) at 4120.75.
  • SPX lagging sectors:
    • Communication Discretionary -3.42%
    • Information Technology -2.56%
    • Industrials -1.88%
  • Technicals: S&P E-minis technical condition remains bearish and a strong impulsive sell-off has resumed once again today. The move lower has resulted in a break of support at 4212.75, the Jan 24 low, resulting in fresh lows for the year and a resumption of the current bearish cycle. The focus is on the 4100.00 handle and 3990.50, 0.764 proj of the Jan 4 - 24 - Feb 2 price swing.
  • Current European Bourses:
    • EuroStoxx 50 down 168.28 points (-4.24%) at 3805.13
    • FTSE 100 down 218.66 points (-2.92%) at 7280.85
    • German DAX down 690.95 points (-4.72%) at 13944.09
    • French CAC 40 down 283.56 points (-4.18%) at 6497.11

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