Good morning! Yesterday”s markets ended

Good morning! Yesterday”s markets ended at or near their highs. Today is monthly option expiration. Already, the two make it difficult to reverse price down. But then, throw into the mix a surprise interest rate cut by China, and watch price explode upward.

Now having gapped up well above yesterday”s highs to new all-time highs, the tables have turned. There can be too much of a good thing, and this morning”s open has trended downward since the opening tick.

Ending the first hour back above that open would essentially marginalize sellers through today and probably into next week. But not yet recovering — if not also extending the opening drop by then — would make the balance of today likelier to trend back down aggressively.

Meanwhile, the rate cut has been favorable to Crude Oil. That”s to be expected, since China”s recession has been a cause of Crude”s decline. This is having a favorable impact on the BTU, CLF, PBR, RIG and WLT January Effect candidates. Even PBR has gapped up, and CDE is doing well for its exposure to today”s precious metals rally.

Post any other chart requests to this thread.