US equities are set for net daily gains, with the two leaders – Trans/R2K, leading the way upward. VIX has been ground to the mid 19s. WTIC $70.43.
sp’60min
VIX’60min
Summary
Structure is an overly long bear flag, as the bulls can argue that momentum will be prone to turning positive on Thurs’ morning. The setup is mixed.
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notable stock: AA
Alcoa has earnings in AH. I remember the days when this was a Dow component, and would traditionally be the company that began every earnings season.
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notable stock: KMI
Kinder Morgan has earnings in AH, which should be fine.
Today has seen a new multi-year high, as the stock is m/t bullish, more impressive relative to oil prices.
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notable trans: UAL
United soaring on fine earnings. Next resistance 76/77s
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notable miner: UEC
RSI >70, and even the bold will be raising their stops.
My concern would be the main market… if not until after the election.
back at the close…