US equities remain in minor chop mode. With the FOMC out of the way, the VIX has been ground to the 16s, with quad-opex set to offer the 15/14s.
sp’60min
VIX’60min
Summary
Even a brief break <4200 looks difficult. I suppose you could argue the market makers might prefer psy’4200 for quad-opex tomorrow, before rebounding across next week. In any case… this market remains broadly strong.
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notable stock: AMD
AMD powering upward on Google news. A daily close above the 200dma would offer a run to challenge the $89s next week. I hold.
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notable weakness: X
US Steel is struggling for no particular reason, other than momentum is increasingly negative. Still m/t bullish. I don’t hold this one.
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notable Dow component: AAPL
Apple is a very positive sign for the main market, and especially the Nasdaq, which appears set to break a new historic high.
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notable miner: AG
First Majestic smashed lower with the sector, with silver printing $25.92. I hold.
Its cheerleader time, but we do have a launch – due 12.05pm EST.