US equities open on a positive note. Gold prints $1895s with Silver $24.90… helped by a fractionally cooler dollar, -0.1% in the DXY 92.87s.
sp’60min
VIX’60min
Summary
S/t momentum will be prone to turning positive by early afternoon, and that should keep price propped up into the weekend, if not all the way into early Tuesday.
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notable stock: DIS
Disney earnings were ‘mixed’, turning another quarterly loss. As expected though, the mainstream focus was on Disneyplus, which is now up to 73M paying subscribers. I actually expect Disney to increase prices by $1 by spring 2021, and Mr Market will like that.
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notable stock: CSCO
Earnings were reasonable, although y/y rev’ is still declining… much like IBM.
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notable stock: LI
There is a lot of hot money/attention in the EV makers.
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notable mining ETF: GDX, 60min
The baby bull flag has played out, and the s/t setup offers upside into early next week, at least to tag the lower end of gap in the mid $39s. I’m not concerned with the opening black candle, and I Hold.