sp'60min
sp'daily5
Summary
*a clear fail of yesterday's baby bear flag. I'm not sure how some of you wave counters would now redefine everything from last Friday, but clearly.. we're headed UP.
--
So.. opening gains, and it looks like we'll break into the sp'2000s today.
For now, this is once again a juggernaut of a market.. as the bears are being systematically ground out.
Again.. the ultimate issue is can the market retake the monthly 10MAs... Dow >17400.. with sp >2050. I'm guessing no... but that issue will (obviously) be more important at end month.
--
notable strength: FCX, +7.4%... as the chasers are starting to get involved.
Fellow copper miner.. TCK +20%.. but then $7 remains a 'destroyed level', relative to last year.
--
*eyes on the EIA oil report.. due 10.30am... if market likes the number... Oil will be testing $50.. and that sure will help give an sp' daily close in the 2000s.
-
10.05am... sp' breaks the 50dma (1996)...
Head cheerleader on CNBC - Sara Eisen, is visibly exbulient as there is an IPO at the NYSE.
--
notable weakness, AAPL, -0.3%... which is really lousy performance relative to main market. It bodes good for the AAPL-bears in the next down cycle.
... makes me wonder about earnings... esp' the outlook. hmmm
-
10.27am.. another notable loser.. TSLA -4% in the $231s.... not great.
10.32am.. Oil, net surplus, 3.1 million barrels... oil cooling, but still +0.7%
Equities still looking on track for sp'2000 today.