US equities open a little choppy, if breaking yet another new cycle high. VIX remains repressed in the 14s. WTIC printed $75.86, if bouncing to the $77s.
sp’60min
VIX’60min
Summary
*Powell appears to have been a non-event.
A new cycle high of 4390, but this market is very tired.
The most bearish case… 4260s… and settling Nov’17th OPEX around 4300.
I’m seeing others (such as Heisenberg on Twitter) also touting …. ‘bullish >4400… bearish <4100’, as everything in between is a mess.
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notable stock: DIS
Disney has earnings in AH. Cyclically, the setup is mixed.
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notable weakness: WBD
Earnings: EPS -17cents vs -9est. Rev’ $9.98bn vs 9.96est.
I saw subs were -700K.
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notable energy: OXY
Earnings (Tues’ AH), EPS $1.18 vs 0.88est. Rev’ y/y -22.1% to $7.4bn vs 7.0est. Broadly fine.
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notable fin: HOOD
Earnings (Tues’ AH): EPS -9cents vs -10est. Rev’ y/y +29.4% to $467M vs 479est. Robinhood has no l/t future. Its just a matter of who buys up the client list. Would Schwab want it?