US equity indexes are seeing some chop, but still mostly leaning on the positive side, as s/t momentum continues to swing back toward the bulls. The USD, currently +0.4% in the DXY 93.10s isn’t helping.
sp’60min
VIX’60min
Summary
At the current rate, s/t momentum should turn positive before the close, and that will offer bullish follow through on Thursday.
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notable bond ETF: TLT
Yields churning. The m/t trend has been broken, all thats left is the June low of the $152s.
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notable financial: BAC
Bank of America cooling back… but still far above old resistance – now new support, of the 200dma. If only the fed was bold enough to start raising rates, the sector would turn m/t bullish.
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notable strength: ZM
Zoom catching a bounce.
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Notable mining ETF: GDX, 60min
Miners trying to punch in a floor. I’ll start to take them seriously if above the hourly 10MA