US equities open a little choppy, if leaning on the upward side, as s/t momentum continues to swing back toward the bulls. Yesterday’s reversal candles in the SPX and VIX have both played out. USD is -0.3% in the 89.91s.
sp’60min
VIX’60min
Summary
So… yesterday’s SPX/VIX daily reversal candles played out. Market will threaten to turn lower from 11am, and especially from mid afternoon onward.
To be clear (especially to you new people!)…
Having exited half of everything last Friday, yours truly wants to buy back, but a number of individual stocks threaten at least a few more days of (if choppy) downside.
I’m looking to buy/add:
OXY, SLB, MRO, RIG, GOLD, AG, KGC, HL, MOS, FCX, F, BAC
However, I see no need to hurry, and considering tomorrow is OPEX, I don’t intend to hit any buttons until next Mon/Tuesday.
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notable stock: TSLA
The stock is short and mid term broken. Psy’ $500 remains a valid target.
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notable Dow component: AAPL
Yesterday’s reversal candle from the 200dma played out. However, there is threat of another swing lower.
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notable energy: SLB
Momentum is due to turn negative within 1-2 days.
I would like to buy/add around psy’ $30, where the 50dma will soon be.
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notable miner: FCX
The computer PF $36s appear valid. Yours truly would like to buy back with the 50dma in the $37s.
yours… (overly?) patient.