We’re Looking to Build Upon Yesterday’s Losses

European markets are off by 0.7%. Asian markets fell by 0.5%. And U.S. Futures are indicating a lower open of about 0.5%.

Commodities, however, are to the upside, which bodes well for a possible buy the opening dip scenario.

Nevertheless, we seem to be mired in a bit of a slump, fueled by an uncertain China, asinine Federal Reserve, and milquetoast U.S. Corporate profits outlook.