US equities open on a positive note, but there has already been a full reversal. The s/t cyclical setup offers a cooling wave to at least the upper end of yellow gap to sp’3816. USD -0.3% at 90.23, is still an underlying upward pressure on everything.
sp’60min
VIX’60min
Summary
So… an opening reversal, as yellow gap is going to need to be tagged (if not fully filled) sooner… rather than later. VIX is cyclically low, and due the 23/24s.
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notable airline: UAL
Earnings were an improvement on Q3, but still horrific. Market is concerned at United’s warning that recently rehired workers might need to be furloughed again (or the word I would use… fired).
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notable stock: F
Ford continues to power upward, and broadly… its open air to the 2014 high of $13.05. I would merely note, that specific number drops each quarter due to dividends.
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notable stock: INTC
Earnings are due in AH, and should be ‘reasonable’. I’d imagine the company will want the market to focus on the CEO change – due in Feb’. Technically, the stock is s/t over-stretched. Its difficult to see this one breaking up and away.
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notable mining ETF: GDX
Miners just cooling back after yesterday’s strong gains. The end month settlements should be above key support.