The market caught a bid into the close ahead of the German ESM constitutionality ruling, likely to come in the morning if not pre-market. That was expected. What was not expected is follow through in AAPL weakness on decent volume and an afternoon selloff in equity.
Equity volume remained anaemic once again as was breadth closing around plus 1,000 while volatility managed to close green, just barely. The currencies seemed to be in risk on mode, but that failed to transfer fully to equity markets which lagged the gains in EUR and AUD. Meanwhile USD weakness of roughly 67 basis points did not translate to equal strength in the commodities including the precious metals where silver was down on the session.
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