Good morning. US equity futures are a little higher, SPX +5pts, we’re set to open at 3692. USD is -0.2% in the DXY 90.33s. The precious metals are a little mixed, Gold -$1, with Silver +0.4%. WTIC is +0.5% in the $47s.
sp’60min
Summary
Yesterday saw considerable chop, as s/t momentum stalled just under the key zero threshold. Price structure is a bull flag, but I am skeptical of it.
Overnight futures took a hit on news US President Trump won’t sign the bill, and instead is demanding some of the ‘pork’ be removed, and instead, issue checks for $2K. On further reflection, the market is starting to see this as a positive, and we’re set to open fractionally higher.
Price structure is offering a somewhat messy H/S. Price action will be increasingly skewed due to the Christmas break.
—
Early movers
AAL -1.4%, descending airlines
AMD -0.3%
BA -0.3%
CAT +0.4%
CLDR +4.5%, $500M loan from Citi
DIS +0.3%
–
FCX +0.4%, with copper +2cents to $3.54
GDX +0.1%
GME +3.2%, s/t speculative hysteria
JPM +0.3%
MRNA -4.6%, s/t broken
–
NKLA -1.4%, battling to hold the key $16s
NFLX -0.5%
NVAX -2.9%
NVDA -0.4%
OXY +0.7%
PFE +0.8%
PLTR +2.2%, $31.5M contract with the UK’s NHS
–
PYPL +0.6%
SQ +1.6%
TSLA -1.3%
TLT -0.2%, yields a little higher
UAL -1.9%
UBER +0.4%, pushing for a new hist’ high.
–
VIX -2% in the 23s
–
XOM +0.5%
ZM -0.8%
—
Overnight markets
Asian markets leaned upward, whilst European markets are a little mixed…
Japan: +0.3% at 26524
China: +0.8% at 3382
Germany: currently +0.5% at 13490
UK: currently -0.1% at 6448
—
Have a good Wednesday