U.S. Markets: Markets plummet, especially after the close on Intel earnings miss. (pls. read here)
Rumours say, FED is holding an emergency meeting today! Rate cut???
Asian Markets: Japan drops again more than 2% on Yen strenghth. All of Asia down between 2% and 4% (Hongkong, which lost now close to 20% from the top).
Commodities/Currencies : Oil trades at 91.10 on recession fears. Dollar recovers slightly this mornings on FED rumours.
Events: US … Mortgage applications, CPI, TIC Flows, Industrial Production, Capacity Utilization, Oil figures, Beige Book, JPMorgan, Wells Fargo report. Europe … CPI, German 2yr auction
Ideas/Strategy: GAP trading as always during earnings season.
supports: 7575 … 7540 … 7510/15 … 7470
resists: 7605 … 7615 … 7655/60 … 7690 … 7730/35