sp'60min
sp'daily5
Summary
The overnight swing certainly makes for a rather powerful low . The only issue now is whether the cash/real market will want to test that low.... in the sp'2005/00 zone.
The smaller 15/60min cycles are already on the very low side, so the threat remains against the bears.
Clearly, another up cycle is due... with a return to the 2100s... certainly by the next FOMC.
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Overnight Asia action
Japan: -1% @ 19393... broadly weak, as it officially is back in a recession.
China: opened sig' lower, but settled +0.7% @ 3606.
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French market - CAC, opened lower by around -1.0%, back to almost flat, around 4800. A year end close back above the 5K threshold is rather important.
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notable early movers...
GDX +1.7%, but that gains look broadly unsustainable.
AAPL -1.0% in the $111s.
TWTR +1.4%... as a few of the momo chasers appear.
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Have a good Monday
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9.01am.. Futures have turned negative.. sp -2pts... 2021.
Monday moderate washout, and then up? Probably.
notable weakness, DIS -1.1% in the $113s.... with Star Wars 7 just a month away.
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9.23am.. Big reversal in Oil, now -0.8%... the $40 threshold is vulnerable.. if lost... open air lower... and that sure won't help the broader market..
sp' set to open -4pts...2019.