I hope everybody in the US took advantage of the long weekend to get some R&R. I certainly did, although it was extremely hot here in the northeast.
Last night, stock futures were sinking into the ooze, but then, right at the appointed hour (3 a.m., which is when these things happen) they took off like a rocket and now we are looking at a blast-off open.
For you veteran observers, I call this “Monday,” but here it is happening on a Tuesday. Why? Because the US markets were closed yesterday, so we get a Monday on a Tuesday.
What are the other features of a “Monday”? Gold being sold and bonds either firm or selling off only very slightly compared to the stock futures jubilee. How are we doing on this front? All systems “go.” It’s a Monday on a Tuesday.
There’s no particular news that I am aware of that came out at 3:00 am (EST) to have caused a 150 point Dow futures bonanza. Just another feature of today’s “markets.” Perhaps a normal relief bounce, perhaps due to other news that has not yet come out.
by cmartenson 
