Morning review
Risk-off
After Friday's tech rout, futures bounce; no entries before ISM at 15:00 UTC
Friday closed with the broadest tech selloff of the quarter: US Tech 100 lost 3.5% to 28,385, US 500 fell 1.8% to 7,580 and US 30 slipped 1.1% to 51,770. The VIX jumped 12.9% to 19.42, still below the 25 cut-off. At 07:30 UTC futures were recovering: US 500 +0.43% (estimated cash 7,613), US Tech 100 +0.79% (28,609), US 30 +0.28% (51,915). Measured against the 20-day average on cash history, US 500 sits 1.42 ATR below (MA20 7,730, ATR14 82.7), US Tech 100 2.24 ATR below, so already too far for the band, and US 30 only 0.15 ATR below, which is noise. This slot never opens ideas: US pre-market is too thin to price a level. Of the twelve stocks, nine are more than 1.5 ATR from their average (LLY 3.6, CAT 3.8, HD 2.9, WMT 2.9, XOM 2.7, NVDA 2.6, V 2.4, KO 1.7), JPM is inside the noise floor and AAPL reports tonight. For the afternoon the only clean candidates are US 500 and MSFT on the short side and TSLA on the long side, but the ISM manufacturing print at 15:00 UTC sits inside any intraday window opened at the 13:30 UTC cash open, so the midday review will likely pass too. No open positions, no post-mortems pending.
Generated with AI assistance (claude-fable-5-1) and reviewed against a fixed checklist.