US equities open on a positive note, as yesterday afternoon’s bull flag played out. Each hour closer to Wednesday’s 2pm FOMC announcement, the market will be inclined for increasing chop.
sp’60min
VIX’60min
Summary
A secondary push higher from last Friday’s low of 3310. Its going to be difficult to go much higher.. ahead of the Fed. S/t momentum is high, and we’re due a cooling wave from 11am onward.
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notable stock: TSLA
The s/t hysteria continues.
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notable SPAC: IPOB
Its only Tuesday, and Chamath will surely be laughing himself all the way into the weekend.
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notable weakness: SCHW
Schwab warning that Q3 rev’ will be below Q2.. as the market volatility broadly dropped.
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notable mining ETF: GDX, 60min
Miners higher with gold/silver…. but an opening black candle. Cyclically high, and even the bold will NOT be chasing here.