US equities open on a very positive note, as the market is distinctly relived by earnings from Tesla, UAL, and AAL. VIX 19s are reflective of a calmer mainstream. USD is -0.3% at 100.16 is helping.
sp’60min
VIX’60min
Summary
For the bulls… this is pretty good… as 4370 is solidified as a multi-week low. Upside… into early May.
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notable stock: TSLA
Earnings were better than expected… and its a major relief to the broader market. Personally, I’m just pleased to see upside, as it’ll give Elon the opportunity to offload some more stock at a very good price, to help pay for Twitter.
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notable airline: UAL
We’ve a break above m/t descending trend. Its surprising. The more resilient bears will be out.
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notable Dow component: MSFT
Upside to teal gap… but that should be as high as we go. A key stock to track.
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notable miner: FCX
Earnings: EPS $1.07 vs 0.89est. Rev’ y/y +36.1% to $6.6bn vs 6.3est, were unquestionably good. The market is still annoyed though. The miner bulls need copper to break AND hold >$5.00.