US equities remain choppy, currently leaning on the upward side, as Pelosi noted “we are just about there” on stim bill 4. For now… the bigger problem is that daily momentum has turned negative.
sp’60min
VIX’60min
Summary
Note this morning’s bounce from 3415… as key price thresholds matter!
An eventual break <3400 appears more probable than not, and will offer a powerful main market correction… as Wilson of Morgan Stanley was yesterday touting.
Again, if correct, that sure won’t help the mining stocks… but on the positive side, it’d make for a great buy/add opportunity.
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notable stock: TWTR
As p/t CEO Dorsey will be dragged to the US Senate, next Wed’ Oct’28th, and that will garner blanket coverage. I hope they are fierce, after censorship of the New York Post article, which still hasn’t ended. Earnings due early Thurs’
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notable weakness: MSFT
Microsoft has decisively lost s/t rising trend as momentum has turned negative, and it threatens the Sept’ low. Earnings next Tues’ AH
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notable miner: NEM
Newmont getting hit with the sector. Original PF target of the $55s appears on track. Yesterday’s black candle played out.
Time to venture outside…