Market update

Weekly EIA  numbers were net  inline/bearish as Weekly supplies increased by   slimmest of margins,Production increased  as well.These bearish  items were offset by  another increase in oil exports and big jump in gasoline demand,market reaction muted.Moving past the 10:00 time stamp oil has found a bid and is trading up on session high as as the very narrow overnight range finally gets broken.

Heavy selling on the 8:30 SPX pit opening possibly due to the Expiration of Vix futures which settled at all time low below 9! The “jamming” of the Vix futures could have caused an artificial elevation of Spoos and once Vix expired   Fake Floor gone and heavy selling started. Spoos back to unchanged as I type but nasdaq and FANG still trading heavy as the former down 27 handles and the latter as a group down .6%

Bitcoin still reeling from the announcement of Bitcoin cash availability and possibility of insider trading that  caused Cash to run up before official announcement. Bitcoin futures  down 8.5%  on CME  as any Disruptions to the Cyber world not taken favorably by the Crypto currencies.

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