Good morning. US equity futures are significantly lower, SPX -55pts, we’re set to open at 5812. USD is -0.3% at DXY 107.82. The precious metals are mixed, Gold +0.3% (printing $2622), with Silver -0.7% (printing $29.20). WTIC is -0.5% in the mid $68s.
sp’60min
Summary
Yesterday saw a weak bounce/retrace, of Wednesday afternoon’s smack down. The fact the SPX settled red merely gave extra confidence to the notion the market is s/t broken.
Overnight futures have been increasingly weak, we’re set to open -55pts or so… to around 5810, which will largely fill Trump/orange gap.
The decisive break <5840 merits alarm bells, and offers around 5400… before year end. The latter would decisively take out ALL aspects of m/t support, and would be suggestive 6099 is a m/t top… just ahead of the inauguration.
Things sure have turned interesting since Wed’2pm.
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Early movers
AAPL -1.2%
AI -5.3%
ALB -3.6%
AMD -2.1%
AMGN +0.9%
AMZN -2.6%
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CCL -1.0%, EPS ***
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CLSK -4.0%
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COIN -5.4%
Bitcoin is -3.8% at $93630. The break <94K is decisive, and merits alarm bells.
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DJT -5.8%… but no one cares
FCX -1.3%, with copper +1cent to $4.08
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FDX +6.9%, post earnings gains, with the company to split into two listed companies.
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GME -3.0%
GOOGL -2.1%
HOOD -6.1%
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LLY +5.1%, rising on Novo Nordisk bad news.
MARA -4.7%
MSTR -5.9%
MU -2.8%
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NKE -7.3%, post earnings depression
NVDA -2.7%
NVO -18.6%, Weight loss drug data
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OXY +1.9%, is Buffett/Berkshire buying another block?
SMCI -4.3%
SOFI -4.8%
SOUN -4.8%
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TLT +0.4%, as yields cool
TSLA -5.2%
UAL -1.6%
UNG +1.0%, with Natgas $3.66
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VIX +8.4% at 26.11, next resistance… around 35
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WGO -1.8%, EPS -3cents vs 20est. Rev’ y/y -18.0% to $625M vs 672est. Terrible.
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X -6.0%
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Overnight markets
Asian markets were a little weak, whilst European markets are broadly lower…
Japan: -0.3% to 38701
China: -0.1% to 3368
Germany: currently -1.5% at 19662
UK: currently -0.9% at 8032
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Special note…
Today will be an open day, with my posts available to all. Its the best (and free) form of advertising I can get.
Have a good Friday