Good morning. US equity futures are very significantly higher, SPX +76pts, we’re set to open at 3753. USD is +0.2% at DXY 112.09. The precious metals are broadly higher, Gold +$7, with Silver +1.3%. WTIC is +0.4% in the $84s (printing $83.60).
sp’60min
Summary
Yesterday saw an early burst upward… and then broadly churning across the day. S/t momentum settled on the moderately high side, with a provisional turn from the 2pm hour.
Overnight futures have been increasingly positive, helped by most other world markets. We’re set to open in the 3750s or so… which is notably above teal gap.
If the market can clear 3806, then its open air to major resistance around 4000. Whilst that does nothing to the m/t trend… it’d be hell for the bears holding short.
Its difficult to see the market turning red today. With daily momentum increasingly positive, only the crazy will still be holding short. The latter does include yours truly.
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Early movers
AAPL +1.9%
AG +2.4%, higher silver
ALB +3.0%
AMD +2.8%
AMZN +3.1%
AR +5.9%, to join the SPX 400
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BAC +2.4%
BBBY +2.7%, Walstreetbets
CCL +4.5%
CLF +1.5%
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COIN +4.5%
Bitcoin is +0.2% at $19953… still s/t stuck.
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DIS +2.1%
F +2.3%
FCX +2.1%
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FUBO +16.5, prelim’ earnings
GOLD +1.0%
INTC +1.6%
LNG +1.3%
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META +2.1%
MU +2.5%
NET +4.9%
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NFLX +2.3%, earnings due in AH
NVDA +3.0%
OXY +1.9%
PFE +0.8%
PYPL +3.3%
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RBLX +2.9%
RIG +2.9%
SLB +1.8%
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TLT +0.2%, as yields fractionally lower
TSLA +4.0%,. earnings due Wed’ AH
UAL +2.3%
UNG +0.3%, with Natgas $6.04
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VIX -2% in the 30s
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WYNN +3.2%
X +1.7%
XOM +1.4%
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Overnight markets
Asian markets were very mixed, whilst European markets are significantly higher…
Japan: +1.4% to 27156
China: -0.1% at 3080
Germany: currently +1.6% at 12845
UK: currently +1.2% at 7000
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Have a good Tuesday