US equities remain in minor chop mode, with the SPX teasingly close to the hist’ high of 4238. VIX is churning the 17/16s.
sp’60min
VIX’60min
Summary
Chop chop…. as this market sure is a tease… to the bulls and bears. Thursday will indeed give us clarity on whether the 4000s come before the 4400s.
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notable tech: MU
Micron saw an especially ugly bearish engulfing candle yesterday, and we’re seeing bearish follow through. Bodes problematic for rest of the semicons.
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notable stock: CC (kindly reminded to me, via a subscriber)
Goldman upgrade Chemours, neutral>buy, 35>47. I can agree with that, but the stock will be s/t vulnerable with the main market. FPE 9s… Y 2.7%…. very attractive valuation with a dividend.
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notable fin: COIN
Raymond James ‘underperform’. Yours truly holds to an eventual $100. I wonder how long until the mainstream ‘catch down’ to yours truly.
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notable stock: MOS
Mosaic continuing to cool back. I do look to buy back this one… if sp’4000. Fine company.
time for lunch…