US equities saw some swings, if ending on a significantly positive note, the SPX settling +78pts (1.2%) to 6875.
sp’weekly1b
Summary
SPX: as things are, we’re net lower for the week by -64pts (0.9%). The current weekly candle is a hollow red reversal, which leans net bullish for next week. Weekly momentum remains marginally negative. Upper bollinger is offering 7016.
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Stock of the day
FCX, daily
A new historic high of $62.12, and settling +0.8% at $60.58
Today’s candle is black, which leans bearish, if only part of Thursday
FCX, monthly
Freeport is currently +19.5% for January. Impressive.
My target is 90/100, which looks probable by late summer.
FCX, PF
Computer has a very bullish target of $108.
Ohh, and for copper…
$7.25… which I also agree with.
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Looking ahead
Thursday will see GDP Q4 (print’1), weekly jobs, EIA Pet’ & NG
Earnings: $PG $FCX $GE $HBAN $TCBI $ABT $MKC $ACMR $NG $NWFL $INTC $ISRG $COF $AA $EWBC $CSX $ASB $BY $ALK $CUBI
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Final note
Silver $500 and Gold $8K… I can’t disagree with.
The real issue is the timing.
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*I’ve not watched
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*I’ve not watched.
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The Celente.
*I’ve not yet watched.
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Goodnight from London