Good morning. US equity futures are a little higher, SPX +8pts, we’re set to open at 3927. USD is +0.2% at DXY 103.23. The precious metals are a little mixed, Gold u/c (printing $1890), with Silver +0.5%. WTIC is +0.7% in the $75s.
sp’60min
Summary
Yesterday saw early weakness, but swinging to end on a moderately positive note. S/t momentum settled marginally negative.
Overnight futures have been subdued, we’re set to open a little higher.
Price structure threatens a bear flag, so I’d be open to a cooling wave. Broadly though… teal gap to fully fill, and I’d look for a foray >4K to wash out the largest tranche of short-stops.
NEWS…
Update 3: The FAA is still working to fully restore the Notice to Air Missions system following an outage.⁰⁰The FAA has ordered airlines to pause all domestic departures until 9 a.m. Eastern Time to allow the agency to validate the integrity of flight and safety information.
— The FAA ✈️ (@FAANews) January 11, 2023
A hack… or just a sign of failed tech-infrastructure?
Either way, for some travelers… its a difficult morning.
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Early movers
AAPL -0.1%, court rules Apple violated trade rules
AAL -0.4%
AMAT -1.3%
AMC +6.4%
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AMZN +0.6%
BA +1.1%
BAC +0.4%, earnings due early Friday
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BBBY +26.6%, insane s/t speculative lunacy. Wedbush ‘underperform’, 5>1, a stupid downgrade. The reality is… $0.00
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COIN -2.4%, Davidson $55, Piper Sandler 75>65, which is still ludicrously high.
Bitcoin is -0.1% at $17421
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CRM -2.8%, news?
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FCX +0.2%, with copper printing $4.10
GOLD +0.4%
KBH +1.0%, earnings due in AH
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LUV -1.7%
META -1.3%
MSFT +0.3%
NFLX -0.5%
OXY +0.3%
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TLT +0.7%, as yields cool back
TSLA +2.1%
UAL -0.5%
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VIX +0.9% in the 20s
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VSCO +4.7%, updated guidance, $250M buyback, as Victoria has not only lost her secret, but her mind.
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WBD +1.7%, s/t… bizarrely strong, still m/t horror
WWE +4.9%… Steph’ McMahon quits… replaced with Vince.
My mind is SPINNING. In WWE really got sold to Saudi Arabia… pic.twitter.com/mEsPVkpy95
— THE™ Jessi Davin (@jessithebuckeye) January 11, 2023
Chatter the WWE is set to be sold to some group from Saudi Arabia.
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Overnight markets
Asian markets were very mixed, whilst European markets are broadly higher…
Japan: +1.0% to 26446
China: -0.2% to 3161
Germany: currently +1.0% at 14928
UK: currently +0.6% at 7743
Here in the failed state of the UK…
An MP has been kicked out of the party for daring to question the C19 narrative…
https://www.bbc.co.uk/news/uk-politics-64236687
The ruling regime responded with…
‘”The vaccine is the best defence against Covid that we have. Misinformation about the vaccine causes harm and costs lives.”‘
Their responses are very… ‘robotic’. Someone at party HQ is literally cutting/pasting narrative quotes into a press release.
As I said just yesterday, ‘they’ aren’t going to give up as easily as some in the resistance believe.
In any case… the injuries and deaths from the mRNA gene therapy shots continue. A society that wants to silence/censor those who call out the truth… is not worthy of survival.
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Have a good Wednesday