US equities remain broadly weak, although this morning is another reminder that 11am is indeed a typical turn time. VIX has cooled back to the 25s.
sp’60min
VIX’60min
Summary
We have a provisional spike floor of 3636, just 3pts above the Dec’11th low.
A bounce into early Tuesday appears underway, but the daily charts do threaten further turbulance ahead of the 3.5 day (yes, I’m almost counting the hours) Christmas break.
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notable Dow component: INTC
Intel hit hard with the main market.
How long until its replaced in the Dow by Nvidia?
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notable weakness: SLB
Schlumberger is lower with the sector, but today is offering a reversal candle, for what remains broadly strong.
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notable strength: ROKU
A new historic high, which is impressive considering the main market. The valuation is ludicrous, but the recent addition of HBO to the platform is a mid/long term positive.
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notable miner: PAAS
Silver miners fairing very well today, helped by Silver $27s.
Time to check on the cheerleaders…