US equities are set for net gains for a third consecutive day. Today’s cooler dollar has really helped ensure very significant net weekly gains, which is impressive considering the election isn’t far off.
sp’60min
VIX’60min
Summary
VIX has probably found another s/t floor from the 24s, and its very difficult to see any lower than this, ahead of the election.
Even if I was feeling bold (I’m not), I’d not meddle ahead of the weekend, nor next Monday, which is kinda a semi-holiday, and its possible we’ll just churn into early Tuesday, before an overdue cooling wave. Prime target would be key price threshold of the 3415s.
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notable stock: AMD
A rough end to the week for AMD. News of the likely attempted merger with Xilinx, only added to the downward pressure after the Ryzen launch.
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notable shipper: RCL
Set for a third close above the 200dma, which is very significant. Whilst technically bullish, I don’t like the stock/sector.
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notable miner: PAAS
Silver $25s are really helping Pan American Silver. A break >50dma would be supportive that a s/t floor is in, with the stock some 18% below the Aug’ high.
back at the close…