Good morning. US equity futures are a little lower, sp -3pts, we're set to open at 2068. Broadly, it would seem probable the 2080/90s will be seen before a sig' retrace begins. Energy prices continue to fall, Nat' gas -1.3%, and Oil -0.9%.
*awaiting a number of econ-data points.
Today will likely see net daily gains.. with a close in the sp'2080s.
Right now, a cycle peak looks due late tomorrow/early Thursday... from there.. downside to around the 2000 threshold.
To be clear though, I do not believe it will be a viable short-side trade... I don't intent to attempt to short it. Default trade currently is long-side.
notable early movers....
BABA +8.3% in the $82s... above the 200dma... very significant.
AAPL +0.5% in the $115s.. ahead of earnings.
Overnight Asia action
Japan: -0.9% @ 18777
China: started very weak, -2%... but managed a net gain of 0.1% @ 3434. It increasingly looks like we'll see a monthly close >3400.
Have a good Tuesday
8.31am.. Durable goods , -1.2%... lousy number.. but hey.. bad news is good news right?
sp -5pts... 2066... a close in the 2080s still looks probable.