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Economic Data: ADP Monthly Employment gained 22,000 versus 45,000 expected, and 37,000 in December, suggesting that the labor market remains relatively weak, which plays into Trump, Bessent, and Warsh's insistence that interest rates should be lower...UBER Earnings Reaction: UBER reported mixed results that initially pressed the stock to a pre-market spike-low at 69.50 from yesterday's close at 77.93 (-11%), where buyers swooped in to propel UBER above unchanged.Technically, my attached Daily Chart shows that the initial down-spike pressed UBER below its dominant 3-year up trendline that cuts across the price axis in the vicinity of 74.
Markets have a way of revisiting old behaviors long before investors are ready to recognize them. Not because the circumstances are identical, but because human participation tends to respond in repeatable ways when conditions line up. That is especially true in sectors where fundamentals can swing quickly and sentiment often does the heavy lifting.Antero Resources may be moving back into one of those environments.On the surface, the setup looks ordinary enough. Earnings expectations are improving, balance sheet concerns are present but manageable, and the business remains exposed to the inherent volatility of energy markets.
Today we saw the market move sharply lower, breaking yesterday’s low, but it managed to find support and keep the bullish path in play for the time being. While today’s move up off the afternoon low is a good start for the bullish count, we still have a bit more work to do before we can confirm that a bottom is in place and that we are indeed ready to push to new highs.
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