A.M. Look 10/28/24

Gold needs price action under 2730 to correct or over 2760 to extend.

30 Yr. Bonds came close to the 50% of the life of Futures.

Nasd/Bonds put in a new all time high. Oil is flirting with its 400 week avg.

Japan’s election saw two way price action.

As of yet there is no technical path that is evident.

I do not think chasing any direction will prove fruitful.

Wait for your short term opportunities.

** This Week
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* Monday: Earnings expected from Ford and WM
* Tuesday: S&P Case-Shiller home-price index. Consumer confidence. Job openings. Earnings expected from PayPal, BP, Pfizer, McDonald’s, Royal Caribbean, JetBlue, Crocs, HSBC, Novartis, Phillips 66, Penske, Xerox, AMD, Alphabet, Chipotle, Snap, Visa, Reddit, Mondelez, and Caesars Entertainment
* Wednesday: ADP employment data. Earnings expected from Allstate, MetLife, Eli Lilly, Chubb, Caterpillar, Humana, AbbVie, ADP, Garmin, Kraft Heinz, GlaxoSmithKline, GE HealthCare, Microsoft, Meta, Coinbase, Robinhood, Etsy, Carvana, Roku, Starbucks, eBay, MGM, DoorDash, andAmgen
* Thursday: PCE price index (the Fed’s fave inflation gauge). Halloween. Earnings expected from Uber, Peloton, Merck, Sirius XM, Estée Lauder, Kellanova, Mastercard, Altria, Norwegian Cruise Line, Roblox, Bristol Myers Squibb, Shell, Stellantis, AB InBev, Wendy’s, Hyatt Hotels, Amazon, Apple, and Intel
* Friday: Employment and manufacturing data. Native American Heritage Month begins. Earnings expected from Chevron, FuboTV, Exxon Mobil, Wayfair, and Charter Communications
* Sunday: Daylight-saving time ends at 2 a.m. New York Marathon

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