US equities remain choppy, with a provisional SPX low of 3511, an effective fill of Monday’s gap. VIX remains relatively subdued, as the mainstream appear comfortable.
sp’60min
VIX’60min
Summary
S/t momentum is on the very low side, and the setup favour the bulls this afternoon, and more so… for Wednesday.
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notable Dow component: BA
A decisive break above the 200dma… with next stop of psy’200.
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notable weakness: AMD
Reflective of s/t weakness in the Nasdaq
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notable miner: HMY
Harmony doesn’t get much attention, but we’ve seen options: >43000 Jan’ $5 CALLS. Someone is arguably expecting an end year ramp in the juniors of >20%.
Technically, as I’m long GDX… I’m also long HMY, which is a 1.0% component.
GDX component details: https://www.vaneck.com/etf/equity/gdx/holdings/
time to check on the cheerleaders…