sp'daily5
Summary
*Durable goods orders, -3.4%.... a major miss
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So... we're set to open significantly lower... and it certainly makes things unexpectedly exciting on this wintery morning for the NYSE.
A daily close <2030 would be a major problem for the bull maniacs... but Mr Market sure tends to see a latter day rally. So lets see how we close.... rather than get overly excited on the opening drop.
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Update from an especially loud Oscar
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Have a snowy Tuesday
*notable weakness: MSFT, -8.5% on earnings.
CAT -8.3% on earnings (I assume)
FCX -8%....on lousy earnings ... Copper continues to fall, in the $2.40s
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8,55am... R2k is set to open -1.1%, but that only brings it to the Monday opening level.... frankly, it could easily close net higher again.
Long day ahead...... awaiting more econ-data..............
9.26am... Well... rest of today will be about whether the bulls show up to buy... frankly, any daily close above the 50dma (2045 or so)... would be fine...ahead of the Wed' FOMC.
9.33am.. opening black-fail candle on the VIX at resistance of 17.50.... bears... beware!
9.40am... black candle on the VIX....... never to be taken lightly!
9.44am ... opening reversal candle on the R2K...... bears.... beware!