Library Archive
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- Most of the names we typically look at were negative over the last 24 hours. Towards the upside, crude oil jumped just under 1%, joined by the US Dollar and emerging markets representative ([EEM]) in the green.
- Most other names were negative, albeit relatively muted in their decline. EFA and TLT led the way, each declining ~.75% for the day.
- Major chart action was limited. Crude oil ([CL/]) notched an additional two X’s on its default chart. While the path of least resistance is lower, it is encroaching on a significant level of old support in the upper $80’s. Continue to watch headlines out of the Middle East for further development conflict wise. TLT reversed lower, now sitting within earshot of 2026 lows.
- Major earnings came from the likes of [MMM], which moved ~5% higher in premarket trading. It remains a low attribute name but trades in an interesting position well off 2026 lows. [NOC] declined after its report, moving lower towards 2026 lows. It remains a ow attribute name and is an area to avoid despite continued global unrest.
- GOOGL [GOOG] reports tomorrow, the first of the mega-cap big tech to do so. While still in the black for the year, it trades off highs and has put in a series of lower highs on its default chart. Keep a close eye on newly established resistance towards the middle of the trading band.
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