US equities are battling to find a floor, ahead of the Thurs & Friday jobs data. Mr Market will absolutely resort to the ‘bad news is good news’, with lower bond yields and a weaker dollar.
sp’60min
VIX’60min
Summary
Whilst tomorrow is a Thursday, which will inherently favour the bears, the ADP jobs data would be one excuse for the market to bounce. If not, there is always Friday.
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notable stock: BA
Boeing was the early warning last week, that the main market was set to break.
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notable weakness: CAT
Another Dow component… s/t broken, as momentum having only just turned negative.
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notable resilience: DIS
Chatter that Disney has secured the support of ValueAct, to fight against Trian (lead by Peltz). Meanwhile, the mouse is set to push ahead with another tranche of woke garbage tier tv/movies.
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notable miner: FCX
Lower with copper printing $3.83. Momentum has turned negative.
Freeport bulls need to see >$4.00, but that won’t be easy.