It was an usually green Thursday, the SPX settling +1.9% to 4317. Meanwhile, WTIC settled +$2.02 (2.5%) to $82.46.
sp’weekly1b
WTIC daily
Summary
SPX: as things are, we’re net higher for the week by +200pts (4.9%). Weekly momentum is ticking upward, but remains negative. Most notable is that we’re back above m/t trend. Massive resistance in the 4330/40s.
WTIC: oil printed $80.22, but swung upward to settle at $82.46. Daily momentum is starting to tick upward. The ultimate wild card would be a weekend attack… this time against Iran.
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Looking ahead
Friday will see Monthly jobs, ISM/PMI serv’
Earnings: FUBO, ENB, CBOE, CAH, EOG, IEP, CNK
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Final note
Always good macro chatter from Mr Long. Get a coffee or something.
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Computer is holding a very bearish target of 3751. Right now… that looks a long way down.
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JPM, daily
The third day higher of four.
Back above the 200dma.
We’ve two downside gaps… that appear an eventuality.
Computer is seeking the $119s… just $3 below the second gap.
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Computer with a bearish target of the $149s
Apple $AAPL EPS $1.46 vs 1.39est.
Rev' $89.5bn vs 89.28est.
The stock is initially +2% 🤔
… and 30 seconds later… its -1.3%. 😑 pic.twitter.com/dGCg2judt6— Philip Calrissian (@Trading_Sunset) November 2, 2023
An initial pop… but then a rather powerful downside reversal.
Certainly… one to watch tomorrow.
Goodnight from London