sp'60min
Summary
*closing hour action: minor chop... leaning to the upside
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The second consecutive net daily decline (if fractional) in the sp'500, and we've seen a fair few sets of minor negative closes only to see prices resume strongly higher.
We're clearly due a retrace, and I'm guessing sp'2116 was indeed a short term high.
With the broader weekly/monthly cycles pushing back upward, any retraces are going to be difficult.. and right now, the 2020s look best bearish case.. before pushing upward into year end.. and beyond.
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Awaiting earnings from DIS.... initial reaction/earnings will be posted....
4.17pm.. DIS.. $1.20 EPS. Rev' fractional miss, nothing of any significance.
Stock cools to $110s... but broadly.. nothing too dramatic... but it sure isn't blasting into the $120s.
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4.27pm.. Iger appears on clown finance TV to pump his stock/company...
DIS hits an AH low of $109.78.
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Regardless of any further AH action... DIS will be vulnerable.. if the broader market cools to sp'2060s.. or certainly.. the 2020s.