US equities are choppy, but still leaning on the upward side. VIX 17/16s are reflective of a very calm mainstream.
sp’60min
VIX’60min
Summary
*No… I’m not watching Powell. I’m not in the mood, and could guess most of the usual nonsense he is currently spewing out. Might he say something off script, yes… but its very unlikely.
As for equities… regardless of the exact close… its been a bullish day. The s/t cyclical setup favours the bears… but its a lousy ‘broader’ setup, as daily/weekly momentum is in the process of swinging back to the bulls.
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notable Dow component: AAPL
Set for net gains, and I’m with Pete Najarian, as a move >140 appears due within a few weeks.
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notable tech: AMD
A test of the $89s still appears due before end month.
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notable strength: TGT
A new historic high… as psy’ $250 is realistic by next earnings late July/early August.
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notable miner: FCX
Freeport higher for a second day. I hold… soft target 39/40s.
Time to venture out (I think its been 8 days)… back at the close…