It was another day when the major indexes opened higher, just like the will today.
We have been in a trend where the market opens high then pulls back a little in the first 30 minutes, and then goes back up.
It looked like another day higher was going to take place until at 1:10pm Chicago time that the market broke through the unchanged line, and kept falling. It was not a large fall by any measure, only -9.35 in the SPX, but enough to disrupt the current trend. The strange thing is there wasn't any news that would provoke sellers to come in.
Perhaps people were rightfully nervous and concerned about what could transpire over the weekend with Iran? Though both the US and Iran seem to have a Detente going on, who really believes it? And over the weekend, Iran admitted to “accidentally” shooting down the 737 they initially claimed crashed because of mechanical failures. I guess being caught on video was enough for Iran to have to be honest. This started a weekend of protests by Iranian students to bring down the Ayatollah.
It is funny to see how fast the CIA can help organize a protest in a foreign country like Venezuela, Hong Kong or Iran.
Nothing really stood out except: Bonds/TLT were up 1.22 at 138.44.
BA was down -6.42 at 329.92, what seems to be a current support level.