Good morning. Futures are moderately higher, sp +16pts, we're set to open around 1930. A daily close in the 1930/40s would bode well for the bulls, with further accelerated upside into next week. First target remains the big psy' level of sp'2000.
So, we're set to open somewhat higher.... pulling up and away from the somewhat scary Tuesday low of 1903.
I will want to see VIX under the 30 threshold today... and broadly cool to the low 20s next week.
AAPL +1.0% in the $108.80s
DIS +0.9% in the $100.40s
NFLX +0.5% in the $106.40s
Doomer chat, Hunter with Berwick
Overnight China action: Underlying weakness continues... with the Shanghai comp' -0.2% @ 3160. It seems likely there was some Govt'-buying into the close.
*China is closed for the rest of the week for a WW2 anniversary. With the US closed next Monday... that arguably favours the equity bulls... as things can at least calm down into next middle of next week.
Have a good Wednesday
8.30am.. ADP jobs , 190k.. a touch light.
Productivity, +3.3% annualised... thats rather okay... best level since Q4 2013.
Unit labour costs, -1.4%... and that is bullish for profits!
sp +18pts... 1931... VIX will be set to lose the 30s.
Lots of data to come... Factory orders, EIA oil report (a big draw down sure would help Oil today.. and thus energy stocks/main market)... and a Fed book in the afternoon.
notable strength: AAPL +1.7% in the 109s.. NFLX +2.4% in the 108s.
8.47am.. gains building, sp +23pts.... 1936. AAPL 110. . DIS 101
Ford (F) +2.0%.. 14.00
9.14am.. sp +27pts.. we're set to open at 1940.. with VIX in the 29/28s....
On track for sp'2000.. with VIX 22/19.