US equities open in minor chop mode. A washout to tag orange gap to sp’3760s remains a threat before OPEX. USD +0.3% in the 90.30s is a moderate pressure on most things.
sp’60min
VIX’60min
Summary
Well, the Intel news is interesting, as every day at the world’s most twisted and rigged casino is indeed… unique.
Whilst we are still s/t cyclically low, it won’t take much to at least tag orange gap to 3764. As ever… Thursday will be prime for the bears… so maybe net declines today… but 3760s tomorrow.
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notable stock: INTC
Note the opening reversal… with a black candle, as teal gap has been filled. Now we have a giant downside gap.
CEO Swan is getting replaced… (or rather kicked?), with Gelsinger to take over. I don’t know the ‘style’ of Gelsinger. Will he just carve Intel into a thousand pieces, or actually try to do something productive?
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notable stock: AMD
AMD selling lower on the Intel news, as momentum turns back to negative.
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notable energy: XOM
Exxon is still somewhat laggy to the sector (yet to clear the June high), but it should manage that soon.
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notable mining ETF: GDX
Miners remain in chop mode. Momentum has turned negative.