US equities open weak, but it barely rates as ‘moderate’, with the Nasdaq comp’ already turning positive! The s/t cyclical setup favours the bulls… if very choppy, ahead of quad-opex.
sp’60min
VIX’60min
Summary
*weekly jobs: 412k vs 375 prior (revised). Still… its indicative of a recovery ‘of sorts’.
Well, anyone getting overly hysterical about overnight/pre-market declines is already getting real frustrated. There just isn’t any significant/sustained downside power, as the 4300s still look due before end month.
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notable stock: OXY
I see this…
https://www.zerohedge.com/markets/david-tepper-says-oil-stocks-are-cheapest-equities-every-measure
So… Tepper was touting OXY to ‘$45 or $50’ yesterday, and that was largely why the stock powered upward against the weak main market. The $45s are ‘curious’, as its just $1 below yours truly ‘grand target’ of the $46s. Is Tepper a secret reader? 😉
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notable stock: AMD
AMD higher on news Google has picked its EPYC processor. I hold.
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notable strength: F
Ford raised guidance. I hold ‘light’, and should have added! M/t bullish $18s.
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notable miner: GOLD
Barrick Gold reflective of the sector. I’d like to see a close above the $22s. I hold… and am not particularly concerned.