12pm update - awaiting renewed upside

US equities remain moderately mixed.. as there is a (not surprising) attempt by some indexes to turn positive. Broadly.. it would seem market is merely consolidating before another push upward to the sp'2080/90s. Oil remains very weak, -1.9% in the $42s.


sp'60min

Summary

Frankly, nothing to add.. on what is another quiet day.

At least there are AAPL earnings at the close, and that might be part of the excuse for renewed upside tomorrow.
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notable weakness... Ford, although with a reversal candle.. at the 200dma

Sustained action under $14 looks unlikely. Key threshold for a breakout remains $18.

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VIX update from Mr T.



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time for lunch

11am update - quiet weakness

US equity indexes remain moderately weak, sp -5pts @ 2065, but it sure is quiet out there. Despite another array of econ-data coming in broadly weak the market is holding together, but then.. bad news is often good news in this twisted market. Oil remains notably weak, -1.6% in the $42s.


sp'60min

USO'weekly2

Summary

*seen on the bigger weekly charts, you can see that with last weeks closing red candle, the bigger cycles are now back to outright bearish.
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Nothing much to add.

Net daily gains still seem somewhat probable... with a move into the sp'2080/90s, before first real opportunity of a retrace back to around the 2K threshold.

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notable strength (ahead of earnings).. AAPL +0.8% in the $116s.

time to shop.. .back soon.

10am update - opening weakness

US equity indexes are moderately lower, with the sp -5pts @ 2066. A latter day rally seems probable though. Oil is seeing renewed sig' weakness, -2.0% in the $42s.


sp'60min

USO, daily2

Summary

re: Oil. A loss of the $40 threshold later this week/early Nov' would certainly help drag down
energy stocks.. and the broader market.

Unquestionably.. the issue of over supply has not been remotely addressed, and sustained action in the $30s now looks likely into year end.
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notable weakness...

coal miners, CNX -11% in the $7s

CHK -4%, as Nat' gas prices look headed for $1.50.. or even the ultimate $1.00

F, -5%
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early strength... AAPL, DIS, BABA, TWTR

.. indeed, AAPL earnings at the close will be rather interesting.