US equities remain in chop mode, as the market is burning off s/t oversold conditions. The setup offers another cooling wave on Wed/Thurs’…. before Santa (although I remain concerned he is also under effective house arrest). USD is +0.4% in the 90.32s.. which is a particular pressure on commodities.
sp’60min
VIX’60min
Summary
Little to add.. for what is just s/t chop.
VIX appears floored from the 23s, which is a problem for equities.
–
notable bond ETF: TLT
Yields are a little cooler. For now, we still have a valid double floor from the $154s.
–
notable financial: BAC
Just some cooling after yesterday’s new multi-month high.
—
notable strength: CRSR
Yesterday’s bullish engulfing candle has played out, as new hist’ highs are on the menu in early 2021. Momentum has turned positive.
time for a light lunch…