Good morning. US equity futures are significantly higher, sp +30pts, we're set to open at 1910. Broad upside into the next FOMC of Jan 27th is expected, probably to the 1960s. Sustained action >2K looks out of range.
Well, its Tuesday... and all of the doomer chat over the long weekend has amounted to nothing.
We are clearly due a bounce, having cooled from 2081 to 1857 across 13 trading days.
Right now, it would seem we'll max out next Tue/Wed' afternoon in the 1960s.
From there, next wave should take us to the 1750/25 zone.
AAPL +1.3% @ $98s
DIS +1.3% @ $95s
TVIX -10.3% in the $9.40s. The 6s look viable next week... and I will be a likely buyer there.
Update from an increasingly bearish (mid term) Oscar
Japan: very unstable session, +0.5% @ 17048
China: messy open, but then climbing, +3.2% @ 3007, a natural back test to 3400s looks probable before next wave to 2500s.
Germany: currently +2.2% @ 9730
Have a good Tuesday