A.M. Look 10/29/24

I’m looking for two capital flows today. One on the early data and the next late afternoon on earnings.

The early fly in the ointment is the double top showing in Spoo/Bonds.

It’s concerning since it’s sitting right on momentum.

Nasd…looking for a 20,413 print

Gold is showing double top on the long term point & Figure but the FX crosses are all showing positive flows.

Bitcoin looks fine.

Oil…I liked the low yesterday coupled with a matrix level, it was a low risk buy. Trade the gap and buy hard breaks.

* 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

8:30am USD Goods Trade Balance -95.9B -94.3B
USD Prelim Wholesale Inventories m/m 0.1% 0.1%
9:00am USD S&P/CS Composite-20 HPI y/y 4.9% 5.9%
USD HPI m/m 0.1% 0.1%
10:00am USD CB Consumer Confidence 99.5 98.7
USD JOLTS Job Openings

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