sp'60min
sp'weekly2
Summary
*it will be kinda important for the bull maniacs to turn the weekly candle back to blue.. as it was earlier yesterday.
Frankly, I really want to see a weekly close at least in the sp'1950s.. anything under that would be a problem.
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Equity futures were initially weak overnight, equiv' to -10pts @ 1930... very close to rising trend... from last weeks low of 1911.
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Overnight Asia action...
Japan: -2.1% @ 18299... opening weak, with a slight recovery into the close. Considering the previous days hyper gains of 7.7%... it was an understandable retrace day.
China: -1.4% @ 3197. A broadly weak day.. and the PBOC seemed absent. On the positive side, the Shanghai comp' managed another daily close above the 3K threshold. Upside target remains the 3500/600s.... before resuming lower.
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Have a good Thursday
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7.35am sp +4pts @ 1946. Not exactly inspiring, but we've a long day ahead.
DIS +0.4% in the $102.30s. A daily close in the 103s would be something.
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8.42am.. sp -10pts... 1932... and this is starting to become a problem.
Any sustained trading <1925 will break soft rising support.... opening up last weeks 1911 low.
Best guess... we go up.. but once again.. it is a borderline situation.
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9.16am.. sp -4pts.. 1938...
*Tepper was a good guest on CNBC just earlier.. seems he would be a heavy buyer in the 1700s.
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9.39am.. minor weak chop.... core rising support is at 1925.
All things considered, we should be battling upward... no later than 11am.
9.47am.. black-fail candle on the VIX.... equity bears beware!
.. time for an early lunch