US equities open on a weak note, but again… there really isn’t much downside power, as the market is already s/t cyclically oversold. The precious metals are battling upward, with Gold $1879s, and Silver $25.02.
sp’60min
VIX’60min
Summary
Little to add, as Tuesday will offer a turnaround, not least from 11am onward.
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notable stock: CRSR
I see no news, as the stock does catch s/t buyers on most cooling waves. M/t bullish.
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notable weakness: SPCE
There is an awful lot of speculative hysteria in this one.
Lets be clear, Virgin Galactic has no customers, no revenue, and clearly… no profit. I see it as little other than a corporate play thing for Branson, a guy who was begging for a bailout from the UK Treasury after just three weeks of struggling.
Yours… never took the UK Treasury’s bailout offer (not that I was particularly applicable or inclined to fill in yet more forms).
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notable strength: X
US Steel is impressively higher, on news its buying the rest of Big River Steel. Next resistance are the $26s
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notable mining ETF: GDX, 60min
Yesterday saw powerful gains, and today could be expected to see some chop… before another push toward the key $38s.
Time to catch a sunset…