sp'60min
Summary
From a pure cyclical perspective, we're clearly due a down wave that should (in theory) span across today, and continue into tomorrow.
Now its a case of whether we can break the Friday low of 2039... or put in a higher low.
Considering yesterday afternoon's break of trend (>2080)... falling back into the 2030s will be damn tough. We shall see
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early movers...
DIS -5% in the $101s, after a slight EPS/rev miss. Broadly, the numbers are still good, but Mr Market is very intolerant of even fractional misses.
GDX +2.5%.. as the precious metals continue to climb.. the weaker USD is surely helping this morning.
JCP -4%
M (Macys) -8%, cuts earnings guidance
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Brief update from Mr C.
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Doomer chat.. Hunter with Ms. Fitts.
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Overnight action
Japan: cooling from early gains, +0.1% @ 16579
China: minor chop, +0.2% @ 2837
Germany: increasingly weak, currently -0.8% @ 9962.... as the equity bulls lose the 10K threshold once more.
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Have a good Wednesday