US equities remain in chop mode, as whilst the market is s/t oversold… there just aren’t enough willing buyers. In any case… the s/t setup STILL favours the bulls into Wednesday, whilst Thursday will be prime for another attempt at orange gap to the sp’3760s.
sp’60min
VIX’60min
Summary
Chop chop…. chop. Indeed, its pretty tedious, but we do have some dynamic sectors, not least energy and the financials.
–
notable bond ETF: TLT
TLT has already printed the $149s. Its open air to the Sept’2019 $145s. Lower bonds… higher yields…. is bullish US financials.
–
notable financial: WFC
Wells Fargo powering upward to a new multi-month high, helped with higher yields.
options >24000 Jan’ $35 CALLS.
Earnings due Friday morning.
—
notable airline: UAL
Recent price action is choppy, but with the stock having cleared the June high, it remains open air to next major resistance of the $70s. That is clearly going to take some considerable time, but technically… $70 IS natural target.
Time to check on the cheerleaders…