US equity indexes closed on a positive note, SPX +17pts (0.3%) at 6840. Nasdaq comp' +0.6%. Dow +0.1%. The Transports settled +1.0%. R2K +0.6%
SPX - daily
VIX - daily
Summary
Equities opened broadly higher, but the gains were shaky from the start. The SPX cooled from 6879 to 6814, and recovering to settle at 6840. Volatility was a little higher, the VIX settling +3.1% to 17.44.
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US equity indexes mostly closed on a weak note, SPX -68pts (1.0%) at 6822. Nasdaq comp' -1.6%. Dow -0.2%. The Transports settled +0.9%. R2K -0.8%
SPX - daily
VIX - daily
Summary
US equities opened on a weak note, with the SPX printing an opening low of 6834. From there... considerable chop, with a secondary wave lower in the afternoon to 6820, and settling at 6822.
Volatility was mixed, the VIX printing 17.38, but cooling back to settle -0.1% to 16.91.
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US equity indexes closed rather mixed, SPX -0.3pts (0.00%) at 6890. Nasdaq comp' +0.5%. Dow -0.15%. The Transports settled +0.2%. R2K -1.1%
SPX - daily
VIX - daily
Summary
US equities opened choppy, if leaning on the upward side, which was enough for the SPX to print a new hist' high of 6920. From there... a holding pattern into the 2pm FOMC announcement. Powell duly appeared at 2.30pm...
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| The CEO of Print Central |
Volatility picked up a little, the VIX printing 17.58, and settling +3.0% to 16.92.
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| 5.12pm GMT |
US equity indexes closed somewhat mixed, SPX +15pts (0.2%) at 6890. Nasdaq comp' +0.8%. Dow +0.3%. The Transports settled -0.7%. R2K -0.5%
SPX - daily
VIX - daily
Summary
US equities mostly opened on a positive note, the SPX printing a new hist' high of 6911, and settling at 6890. Volatility picked up a little, the VIX settling +4.0 % to 16.42.
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| Bullish construction |
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| 14c/57f is bearable |
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| Bullish gold... from around $3500 |
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| Descending into Heathrow |
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| As October is soon to settle |
US equity indexes closed broadly higher, SPX +83pts (1.2%) at 6875. Nasdaq comp' +1.9%. Dow +0.7%. The Transports settled +1.3%. R2K +0.3%
SPX - daily
VIX - daily
Summary
US equities opened on a broadly positive note, the SPX clawing upward across the day to print 6877, and settling at 6875. Volatility was ground lower for the sixth day of seven, the VIX settling -3.5% to 15.79.
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US equities are set for sig' gains. VIX is due to settle in the 16/15s, reflective of a mainstream that is hopeful of a rate cut, and Trump-Xi... due to meet in South Korea this Thursday.
sp'60min
VIX'60min
Summary
Regardless of the exact close, with a new hist' high, its been a very bullish start to the week.
The s/t cyclical setup favours the bears, but the bigger daily cycles will favour the bulls into the Wed' FOMC announcement.
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notable stock: NXPI
NXP Semicon has earnings in AH... which should be fine.
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notable stock: UPS
United Parcel Service has earnings early Tuesday.
My concern would be the slowing economy.
The one upside... cheap oil/fuel.
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notable health: UNH
UnitedHealth has earnings early Tues'.
The cyclical setup favours the bulls... although the cautious will leave alone.
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notable strength: TSLA
Leading the main market upward.
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notable miner: NEM
Reflective of the sector, which could see net downside into/across November.
back at the close...
US equities are still clawing upward. Meanwhile, the precious metals are rather powerfully lower, Gold -$89 (2.4%), with Silver -$1.46 (3.3%). The miner ETF of GDX is currently -3.8% at $70.01.
Weekly charts for perspective...
GLD
SLV
GDX
Summary
*weekly momentum for gold, silver, and the miners, could easily tick lower for 'some week's to come.
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Gold/GLD: new s/t low, currently around $4006. Clearly, psy' 4K is an important level. A grander washout to around big support 3500/3400s appears probable before year end.
Silver/SLV: new s/t low, currently around $46.91. Big support psy'$40/39s
GDX: new s/t low, clearly due to weak gold/silver.
notable gold miner: AEM
Losing the 50dma
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notable silver miner: PAAS
Another one... that can't hold the 50dma.
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Equities: sp'60min
New hist' high of 6862. Impressive, as the bigger weekly chart is offering the 6900s.
US equities remain sig' higher. Meanwhile, WTIC is currently +0.3% in the mid $61s. The energy sector ETF of XLE is currently net higher for the week by +0.4% at $88.47.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $60.67, if recovering to the $61s. The perform' is worse, relative to the sig' higher main market.
XLE: energy stocks are moderately higher... lagging to the main market, restrained by oil.
notable stock: OXY
Lagging the sector. Daily momo still turned positive.
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notable nuclear stock: SMR
Friday's black candle played out. Cyclically low.
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Equities: sp'60min
New hist' high. S/t cyclically high, set for sig' gains.
US equities are choppy, if holding sig' gains. VIX remains churning the 16/15s.
sp'60min
VIX'60min
Summary
*still waiting for my server to be fixed. I'm starting to assume the rest of today is write-off.
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Well, regardless of any cooling this afternoon, with a new hist' high, its a net bullish day AND week.
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notable China stock: XPEV
I like this one for the long term.
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notable weakness: F
Ford just seeing a retrace of Friday's gains
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notable fin: KKR
Its positive. At best... 128/130.
Earnings due early Thurs', Nov'7th.
I hold, would like to exit >127s
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notable miner: B
Lower with the sector
US equities are holding sig' gains. VIX has been crushed into the 16/15s.
sp'60min
VIX'60min
Summary
*Whilst https://www.subscriber.tradingsunset.com is offline... I'll post here.
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Yes, we're s/t overbought
.. but still net bullish into the Fed.
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notable stock: AAPL
New hist' high, reflective of the main market.
Earnings Thurs' AH
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notable semicon: NVDA
Pushing for a new hist' high.
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notable strength: TSLA
Powering upward with the main market
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notable miner: NEM
Lower with the sector.
The break <50dma is very bearish, supportive of the notion of 'multi-week' downside.
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EXTRA... the following is part of a pre-market post that I never published.
There are a few things of note...
Early movers
AAPL +0.7%, earnings Thurs' AH
AEM -3.4%
AG
-4.6%
AMD +1.8%
AMZN +1.8%, earnings Thurs' AH
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B
-3.4%
BABA +2.7%
BIDU +4.7%
BMNR +5.4%
CLSK +4.6%
COIN
+2.7%
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CRSP -10.2%, news?
DEO -2.0%
DRD -4.2%
FCX +0.7%,
with copper +5cents to $5.17
FUTU +3.3%
GFI -5.6%
GME
+5.2%
GOOGL +2.1%, earnings Wed' AH
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HMY -4.3%
HOG
-1.3%, Morgan Stanley, equalweight> underweight, 27>25
IMAB
+4.3%
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KDP +8.0%, EPS 54cents inline. Rev' y/y +10.7% to
$4.30bn vs 4.15est. Will receive $7bn investment, lead by Apollo and
KKR
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LAC -3.1%
META +1.4%, earnings Wed' AH
MSFT +1.3%,
earnings Wed' AH
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MSTR +3.8%
MP -5.8%
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NEM
-5.5%
ONDS +7.0%
PAAS -3.7%
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RKLB +2.2%
SMR +3.4%
TMQ
-9.0%
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TSLA +1.4%
UAL +1.1%
UPS +0.3%, earnings due
early Tues'
UMAC +14.2%
UNG -2.5%, with Natgas $3.94
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VIX
-4.1% at 15.70
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VSCO +1.8%, Goldman, sell>neutral,
18>32
XPEV +1.8%
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Overnight markets
Asian markets were sig' higher, whilst European markets are broadly flat...
Japan: +2.5% to 50512 (new hist' high)
China: +1.2% to 3996
(new multi-decade high)
Germany: currently -0.02% at 24235
UK:
currently +0.03% at 9648