S&P 500 futures drifted a bit lower this morning but were sitting on a near-term support at 4579.00 at the cash open which was bought. This is about what I would expect on a day with big tech earnings, an attempt to retrace a bit early in the morning followed by a mild bias up. Will we get another swing high? Certainly possible since major support at 4560.00 held on Monday morning but I don’t think it is a sure thing. Pushing up to near 4603.25 can be good enough for today prior to the earnings after the bell.
Nice to see ZB trying to push down from 125^30. Next targets at 125^08 and 124^24.
Crude is pushing up past 79.40 which opens the door for a try at 81.00 tomorrow. I think it late to trade on the long side but probably too early to attempt to fade.