sp'60min
Summary
So.... market is still leaning lower, but once again.. the declines are nothing remotely significant.
Clearly, first soft target is yesterday's low of 2034... and there is the soft low of 2033.... a level which UBS - and many others, recognise as very important.
As things are... a test of the 200dma in the sp'2010s is very viable (if not probable) within the next 2-3 trading days.
The H/S formation is offering 1970/60s... but that is clearly out of range until after opex.
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early movers...
WMT +8.5% in the $68s. Earnings were above consensus, but its notable that EPS was still net lower y/y by almost -5%
GDX: -1.1%.. as the metals continue to cool.
TSLA +1.1%... as the company is raising $2bn via a share issue
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Overnight action
Japan: minor chop, settling u/c @ 16646
China: minor chop, settling u/c @ 2806
Germany: leaning weak, currently -0.5% @ 9891
Have a good Thursday
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8.40am... USD jumps a bit... on some econ-data.
sp -8pts... 2039.....
Phil' fed -1.8... vs exp +3.0. .. pretty ugly number.
*'leading indicators at 10am... market is seeking +0.4... which seems overly optimistic.