US equities open a little higher. Copper prints a new hist’ high of $5.93, which is a very positive mid/long term sign for the equity bulls.
sp’60min
VIX’60min
Summary
S/t momentum is set to turn positive, as a new hist’ high is due.
Most won’t care… but they should, as copper could be printing the $6s today. Its one sign of underlying commodity inflation.
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notable stock: AAPL
A push toward the 200dma… as Wycaro339 is coming.
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notable weakness: TXN
Earnings (Tues’ AH)
EPS $1.41 vs 1.33est. Rev’ y/y +16.4% to $4.44bn vs 4.32est.
Mr Market saw the outlook as disappointing.
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notable stock: TSLA
Earnings due in AH. I lean net bullish.
Structure favours a bullish breakout.
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notable stock: GOOGL
Initial gains, if reversing lower from gap resistance.
Earnings due in AH. I lean net bullish.