Good morning. US equity futures are broadly flat, SPX -1pt, we’re set to open at 4773. USD is -0.1% at DXY 101.04. The precious metals are mixed, Gold +$2 (printing $2082), with Silver -0.6% (printing $24.22). WTIC is u/c in the $75s.
sp’60min
Summary
Yesterday broke a new cycle high of 4784 in the closing hour. S/t momentum settled marginally positive.
Overnight futures have been subdued, we’re set to open broadly flat. The s/t cyclical setup favours the bears. At best, a sporadic cooling wave to tag purple gap, before resuming upward.
Yours truly is merely interested in being long gold/miners, and I expect that to remain the case across Q1.
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Early movers
AG -1.7%, lower silver
ALB +0.8%
AMD +0.5%
BMY +0.3%
CCL -1.1%
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COIN +2.4%, *Bitcoin charts not currently updating on stockcharts*
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COST -1.9%, Motley Fool writer touting ‘sell’. > https://finance.yahoo.com/m/56007403-c258-34fb-88aa-b6ca425723ab/5-ultra-popular-stocks-i%27d.html
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FCX +0.2%, with copper +2cents to $3.92. A yearly close >$4.00 would merit attention.
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GOLD +0.3%
INTC +0.6%
MU +0.3%
NEM +0.2%
NVDA +0.3%
OXY +0.2%
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TLT +0.4%… as yields are still broadly falling.
TSLA +0.3%
UNG +3.0%, with Natgas $2.51
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VIX +0.2% in the 13s
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XOM +0.3%
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Overnight markets
Asian and European markets all leaning on the positive side…
Japan: +1.1% to 33681
China: +0.5% to 2914
South Korea: +0.4% to 2613, for what is just another failed state.
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Germany: currently +0.15% at 16731
UK: currently +0.5% at 7734
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Have a good Wednesday