US equities are moderately choppy. A latter day recovery is a high threat, although the Dow is currently net higher anyway. VIX has picked up to the 26s… as the SPX gap is set to fully fill.
sp’60min
VIX’60min
Summary
Little to add. 11am will offer a turn… if not, then 2.30pm. Broadly, the bulls have little to be concerned about.
–
notable bond ETF: TLT
Bonds sliding, with moderately higher yields. The m/t trend was broken last week. All that is left is the June low. Higher yields are going to help the financials.
–
notable financial: JPM
Yesterday’s break above the June low is significant, and offers broader upside into year end.
—
notable mining ETF: GDX, 60min
Yesterday’s low has been surprisingly taken out. Due another swing upward.
—
notable stock: DKNG
Draftkings is lower for a second day, although its comfortably holding above the recent low. Of the many stocks I’ve highlighted on Twitter across the past four years, Draftkings is bizarrely popular.
Typically, I might capture 5-10k views per tweet. Sunday’s post is almost at 100k. I guess the stock is still wrapped in a great deal of speculative hysteria. Earnings this early Friday will merit attention, and I have to see the outlook as positive.
Time to catch a little sun…