Good morning. US equity futures are leaning upward, SPX +12pts, we’re set to open at 3975. USD is -0.3% at DXY 106.27. The precious metals are significantly higher, Gold +$14 (printing $1773), with Silver +1.7% (printing $21.58). WTIC is +2.7% in the $79s.
sp’60min
Summary
Yesterday opened weak, and whilst there were a few bounce attempts, the market settled very significantly lower. S/t momentum turned negative at the open, and was increasingly negative across the day, settling on the low side.
Overnight futures have been subdued, if leaning a little higher.
Bears should be seeking a bear flag to be built, before resuming lower to challenge the recent minor low of 3906. Prime target is a tag of yellow gap into the 3850s.
I hold short, and am trying to be patient!
—
Early movers
AAPL +0.5%
AG +2.7%, higher silver
AMD +0.8%
AMZN +0.8%
–
BABA +5.2%, bouncing Chinese stocks
BIDU +5.6%
BILI +10.5%, post earnings jump
–
CC -7.6%, updated guidance
CCL +0.6%
CHPT +1.3%, ,Citi downgrade… 15.50>14.00, earnings due Thurs’ AH
CLF +1.5%
–
COIN +1.3%
Bitcoin is +1.6% at $16472
–
CS -4.4%… the horror continues for Credit Suisse.
–
DIS +0.5%
DOW +2.7%, news/upgrade?
–
FCX +2.5%, with copper +4cents to $3.65
GNRC -2.7%, Jefferies, 95>85
GOLD +2.1%
HIBB -5.7%, post earnings depression
–
LAC +1.4%
LVS +2.9%
MU +0.8%
NIO +4.5%
–
NVDA +0.9%
OXY +1.6%
RIG +2.3%
ROKU -3.1%, Keybanc downgrade, overweight>sector-weight
SBLK -4.8%
SLB +1.8%
–
TLT +0.3%, as yields cool
TSLA +1.5%
UAL +0.8%
UNG -0.4%, with Natgas $7.29
–
VIX -0.4% in the 22s
–
WYNN +3.4%
X +1.5%
XOM +1.5%
—
Overnight markets
Asian markets were very mixed, whilst European markets are leaning upward…
Japan: -0.5% to 28027
China: +2.3% to 3149
Germany: currently +0.1% at 14405
UK: currently +0.7% at 7526
—
Have a good Tuesday