US equities are choppy, as s/t overbought conditions are slowly burnt off. VIX is churning the 21s. S/t threat of 23/24s… but a sustained break under the key 20 threshold remains due.
sp’60min
VIX’60min
Summary
S/t momentum is ticking lower, but the SPX has printed a new hist’ high of 3860… a mere 140pts (3.5%) from 4K. Yellow gap is still due to be tagged… but clearly not today.
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notable bond ETF: TLT
Yields are moderately higher. TLT still looks set for at least the $145s.
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notable financial: BAC
The US banks are just s/t over-stretched… with momentum turning negative.
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notable strength: AAPL
Apple making a push for new hist’ highs… as seem due, with earnings Jan’27 AH. Momentum due to turn positive.
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notable miner: NEM
Miners struggling… but holding comfortably above key support.