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BRENT TECHS

(H3) Watching Support At The 20-Day EMA

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Bear Threat Still Present

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EGB Supply - W/C January 23, 2023

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Heading North

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Resistance Remains Exposed

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(H3) Uptrend Intact While Support Holds

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Late Equity Roundup: Extending Highs, SPX Nears Resistance

US STOCKS
Stocks adding to Thu's huge post-CPI relief rally, SPX nearing technical resistance as it extends rally in late trade, Energy, Communication Services and Consumer Discretionary outperforming. SPX eminis currently trading +44.75 (1.13%) at 4006.5; DJIA +52.86 (0.16%) at 33772.25; Nasdaq +231.6 (2.1%) at 11346.96.
  • SPX cleared a key resistance at 3928.00, the Nov 1 high Thu -- strengthening short-term bullish condition and price has establishing a sequence of higher highs and higher lows on the daily scale. This signals scope for gains towards 4023.44 next, a Fibonacci retracement.
  • SPX leading/lagging sectors: Energy (+3.23%) sector lead by oil and gas shares: Occidental Petro (OXY) +5.60%, Phillips66 +5.46%, Devon Energy (DVN) +4.20%. Next up: Communication Services (+2.95%) lead by media and entertainment shares: Paramount +14.48%, WBD +10.5%, DIS +4.95%, NFLX +5.3%. Laggers: Health Care (-1.66%), Utilities (-1.36%) and Consumer Staples (-0.59%).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +8.07 at 386.38, Nike (NKE) +7.19 at 106.68, Home Depot (HD) +5.15 at 316.85. Laggers: United Health (UNH) - 30.40 at 513.77, Amgen (AMGN) -7.20 at 283.73, JNJ -5.57 at 168.96.
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Stocks adding to Thu's huge post-CPI relief rally, SPX nearing technical resistance as it extends rally in late trade, Energy, Communication Services and Consumer Discretionary outperforming. SPX eminis currently trading +44.75 (1.13%) at 4006.5; DJIA +52.86 (0.16%) at 33772.25; Nasdaq +231.6 (2.1%) at 11346.96.
  • SPX cleared a key resistance at 3928.00, the Nov 1 high Thu -- strengthening short-term bullish condition and price has establishing a sequence of higher highs and higher lows on the daily scale. This signals scope for gains towards 4023.44 next, a Fibonacci retracement.
  • SPX leading/lagging sectors: Energy (+3.23%) sector lead by oil and gas shares: Occidental Petro (OXY) +5.60%, Phillips66 +5.46%, Devon Energy (DVN) +4.20%. Next up: Communication Services (+2.95%) lead by media and entertainment shares: Paramount +14.48%, WBD +10.5%, DIS +4.95%, NFLX +5.3%. Laggers: Health Care (-1.66%), Utilities (-1.36%) and Consumer Staples (-0.59%).
  • Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +8.07 at 386.38, Nike (NKE) +7.19 at 106.68, Home Depot (HD) +5.15 at 316.85. Laggers: United Health (UNH) - 30.40 at 513.77, Amgen (AMGN) -7.20 at 283.73, JNJ -5.57 at 168.96.