Good morning. US equity futures are significantly lower, SPX -47pts, we’re set to open at 4280. USD is +0.3% in the DXY 92.99s. The precious metals are broadly weak, Gold -$7, with Silver -1.3%. WTIC is -3.3% in the $68s.
sp’60min
Summary
Last week ended on a broadly weak note. Price action was arguably weaker than it might seem, as OPEX would normally just lean to chop. S/t momentum ticked lower into the weekend, settling on the low side.
Overnight futures have been broadly weak, largely pressured by European markets. We’re notably set to open under sp’4300.
I would note the July 8th low of 4289. If that is taken out – as seems probable, it will give extra confidence of the 4250/40s, before resuming upward.
Yours truly remains waiting to pick up OXY, RIG, X, and perhaps some other things.
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Early movers
AAPL -1.8%
AG -1.2%
AMC -4.0%, another fun day for the WSB lunatics
AMD -1.2%
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BA -2.9%
BAC -2.5%
BCS -2.6%, weak UK financials
CCL -4.2%, sinking shippers
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COIN -1.5%
Bitcoin is -1.3% in the 31000s, although remains very much range bound.
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DB -2.1%, weak EU financials
DIDI -2.7%, communist garbage.
DIS -1.8%, just cooling back with the main market
F -1.9%
FCX -2.7%, with copper -8cents to $4.24
GDX -1.3%
GOLD -1.1%
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MRO -7.0%
MRNA +0.6%
NCLH -4.8%, sinking shippers
NVAX +1.6%
OXY -6.1%
PENN -4.8%
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RIG -6.3%
Printing $3.28… not far from key price threshold/support of the $3.10s!
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SLB -4.9%
SPCE -5.2%, hysteria still fading
TSLA -2.2%
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TLT +1.7%, higher bonds, as yields sig’ lower.
TLT is printing the $150s, which is a key price threshold/resistance. An important aspect to watch today.
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TLRY -3.1%
UAL -4.7%
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VIX +15% in the 21s.
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WYNN -2.4%
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X -3.0% in the $21s.
I’d note the 200dma in the $19s.
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XOM -2.2%
ZM -2.6%
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Overnight markets
Asian markets were broadly lower, whilst European markets are very significantly lower…
Japan: -1.2% at 27652
China: -0.01% at 3539
Germany: currently -2.1% at 15220
UK: currently -2.0% at 6870
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Have a good Monday