US equities are battling to build moderate gains. Even those stocks still net lower are mostly sporting reversal candles, which leans bullish for early Friday.
sp’60min
VIX’60min
Summary
SPX pushing against first resistance of the hourly 10MA. S/t momentum threatens to turn positive Friday morning. Again though, it will be OPEX, and I don’t expect anything sustained (in either direction) tomorrow.
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notable stock: AMD
AMD drawing in some buyers.. although still broadly stuck. An eventual upward break appears due.. and that will offer psy’100.
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notable stock: NVDA
Its turned out to be an especially muted reaction to good earnings. Josh Brown did rightly speculate on the lunchtime show this could be a $1trn company… and I agree.
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notable financial: JPM
Weak… but offering a reversal candle.. ahead of OPEX. M/t bullish, with next target of the 135/136s. Right now… the best financial out there.
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notable mining ETF: GDX, daily
GDX appears set to close with a daily reversal candle. It ‘might’ finally mark a key low from what is around key support of the 200dma and monthly 10MA.
back at the close…