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(Bloomberg) -- U.S. stock futures rose as investors weighed positive data on Covid vaccines against the possibility of more virus-related travel restrictions.
S&P 500 futures initially jumped higher after Pfizer Inc. and BioNTech SE said early lab studies show a third dose of their Covid-19 vaccine neutralizes the omicron variant. The index gave up some of the gains to trade up 0.2% in early U.S. hours.
Travel shares reacted positively to the news, with airlines including American Airlines Group Inc., Delta Air Lines Inc. and United Airlines Holdings Inc. gaining more than 1% in premarket trading. Norwegian Cruise Line Holdings and Carnival Corp. also advanced.
Charts posted are not recommendations. They are just a sharing of information.
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NY internals, shows the spike down to the day's low. I dropped color from this because the TRIN is upside down compared to everything else and it was confusing my rather slow brain.
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60min
When the market is going up and it pierces this upper bolinger, it trades sideways [consolidation; gray boxes] before choosing to breakout
When the market is going down and it pierces the lower bolinger, it doesn't consolidate, it rams up higher to resistance
So today's "consolidation" suggests an upside breakout is immanent
Caveat: this is really SKETCHY analysis, and should be taken with a grain of salt "There are only three options: explain why I’m wrong, request further clarification, or execute the directions." [Elon Musk]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.