11am update - a bearish glimpse of sun

US equities are holding minor gains, although a fair number of inidividual stocks (AAPL, DIS) are looking tired.. trading within their respective price gap zones. Price action remains broadly subdued though. Metals are increasingly weak, with Gold -$8 at $1068... the 1062 low is not going to hold.


AAPL, daily

DIS, daily

Summary

Mr Market is likely looking for an excuse to gap lower, with a brief 1.5% washout.. to test the 200dma... with the 50dma soon to be in the 2060s.

Broadly though... any shorts are overly risky.. as the market is clearly pushing upward into year end.
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Here in London city...

A rather pleasent late afternoon, although the nights are icy now... -5c (23f). I guess that is bullish utilities, as energy consumption is now soaring across NW Europe.
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time to cook

10am update - opening gains

US equities open fractionally higher in the sp'2090s, on what is a very subdued open in holiday week. VIX is moderately higher in the 16s... as the Fed hold a closed meeting. Metals remain weak, Gold -$5. Oil is choppy, -0.2% in the $41s.


sp'60min

Summary

A quiet start to what will likely be a quiet, and short 3.5 trading day week.

For now... there is nothing else to add.

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notable strength

DIS, daily

Close to breaking a new historic high (>122s)... as Star Wars 7 is just a month away.
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stay tuned

Pre-Market Brief

Good morning. US equity futures are fractionally higher, sp +1pt, we're set to open at 2090. USD is pushing for the DXY 100 threshold, +0.2% in the 99.80s. Metals remain broadly weak, Gold -$6, whilst Oil is +0.5% in the $42s.


sp'60min

Summary

Price structure on the smaller hourly chart is a baby bull flag, and bodes for the sp'2100s today... before next chance of a reversal into tomorrow/early Wed.

Regardless of any weakness... a net weekly gain looks highly probable... indeed, a monthly close in the 2100s is likely... making a second close above the monthly 10MA

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Update from Oscar


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Doomer chat, Hunter with Fitts.



As ever... make of that.... what you will.
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Overnight Asia action

Japan: CLOSED
China, -0.6% @ 3610. Broadly though, China is holding together very well. With each day above the 3400 threshold... the chances of new lows look extremely unlikely.
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Have a good week...