Good morning. US equity futures are fractionally higher, SPX +6pts, we’re set to open at 4787. USD is -0.2% at DXY 100.48. The precious metals are a little weak, Gold -$4 in the $2083s (initially printing $2098), with Silver -0.1%. WTIC is -0.8% in the $73s (printing $72.89)
sp’60min
Summary
Yesterday saw considerable micro chop, if breaking a fractional new cycle high of 4785. S/t momentum turned negative in the afternoon.
Overnight futures have been subdued, if leaning a touch higher. The s/t setup favours the bears, not least for a Thursday. Soft target is the lower hourly bollinger, currently 4754.
Yours truly is merely looking for an acceptable cyclical entry on Gold.
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Early movers
AAPL +0.3%
ALB +0.7%
AMD +0.4%
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BABA +1.6%, Chinese stocks bouncing
BIDU +2.3%
CCL +0.5%
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COIN -2.1%
Bitcoin is -1.2% at $42935
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GOLD -0.2%
INTC +0.4%
META +0.4%
MRNA +1.6%
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NFLX +0.4%, Keybanc, overweight, 510>525
NIO +1.9%
NVDA +0.3%
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OXY -0.2%
PENN +1.1%, chatter that some hedge fund might have a director/s added to the board.
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TLT -0.4%
TSLA +0.9%
UNG +1.2%, with Natgas $2.46
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VIX -0.1% in the 12s
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Overnight markets
Asian markets were very mixed, whilst European markets are fractionally lower…
Japan: -0.4% to 33539
China: +1.4% to 2954
Germany: currently -0.1% at 16718
UK: currently -0.1% at 7716
Here in the failed state of the UK…
https://www.bbc.co.uk/news/business-67832733
The sheep are increasingly using cash, as a way to restrain their spending. Its reflective of a broken consumer, as the economy has been stagnating since summer 2022.
The elite won’t be happy, as the push for CBDCs continue, with a provisional rollout due in 2025.
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Have a good Thursday