Good morning. US equity futures are a little higher, SPX +7pts, we’re set to open at 3364. USD is -0.1% in the DXY 92.92s. The precious metals are a little mixed, Gold +$4, with Silver -0.1%. WTIC is -0.5% in the $41s.
sp’60min
Summary
Yesterday saw broad weakness, but with a triple marginal floor of 3330/3328/3329. S/t momentum started to tick back upward in late afternoon, and will be inclined to turn positive before the weekend.
Today is OPEX, so considerable chop has to be expected, especially in the late afternoon.
Best guess… choppy upside into early Tuesday, before swinging lower. I’d look for a decisive break <3300 next week, which would offer the mid 3100s in early/mid October.
Meanwhile….
(whether you like him or not… is irrelevant), but Google/Youtube have blocked the latest video from Denniger.
Youtube is not the be-all though, there are other places, where the Nazi thought police (with a left leaning agenda) don’t control.
Original video, via Bitchute…
http://market-ticker.org/akcs-www?post=240255
If the unwashed sheep recognised what has really happened this year…. you’d need a 5mile high Tsunami to put out the fires.
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Early movers
AAPL +0.8%
AMD +1.0%
BAC -0.2%
BCS -2.1%, weak UK financials
BYND -4.6%, JPM neutral>underweight p/t $122s
CCL -1.3%
CVX -0.4%, to cut 30% of Australian workforce.
DB -1.5%, weak EU financials
F +0.7%
FB +2.0%, Morgan Stanley 285>295
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FCX +1.3%, with copper +1cent to $3.07, but having printed $3.10
GDX +0.6%
GE -1.3%, which won’t pleased the s/t call buyers
GOLD +0.6%
HD -1.0%
JPM -0.2%
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KGC +5.3%, updated production outlook. Dividend to be paid, the first since 2013, 3 cents per qtr. Scotiabank upgrade 9.50>11.00
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MOS +2.5%
MSFT +0.6%
MU +0.4%
NEM +0.5%
NIO +3.2%
NKE +1.0%, Morgan Stanley 121>142
NFLX +0.7%
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NVDA +1.2%
ORCL -1.5%, US to block Tiktok downloads this Sunday
PENN +2.9%, as Portnoy promises to work… hard.
PFE +0.6%
SNAP +2.4%
TECK +4.0%, strong copper miners
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TSLA +5.5%, Wedbush 380>475
TLT +0.4%, yields still cooling
TWTR +0.8%
UAL -0.3%
VALE +0.6%
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VIX -2% in the 25s
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WMT -0.9%, Tiktok related
X +0.4%, call buying yesterday
ZM +1.2%
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Overnight markets
Asian markets ended the week on a positive note, whilst European markets are a little mixed…
Japan: +0.2% at 23360
China: +2.1% at 3338
Germany: currently +0.4% at 13257
UK: currently -0.1% at 6042
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Have a good Friday