US equities remain choppy, if still mostly leaning on the weaker side. The Transports is leading the way lower. WTIC has recovered to print $72.04.
sp’60min
VIX’60min
Summary
Price action is choppy, as red gap remains a threat before the weekend. The problem for the bears is that cyclical momentum is already on the low side, and anyway… its OPEX, we have to expect considerable chop.
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notable bond ETF: TLT
The $150s should hold as resistance. M/t bullish yields… and bearish bonds!
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notable fin: BAC
A fourth day lower. Earnings were good, and renewed upside in yields will help.
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notable Dow component: MSFT
Whilst Pete highlighted this one for UOA, the problem is that daily momentum is set to turn negative. Bearish engulfing candle. On any basis… the setup leans weak into next week.
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notable miner: AG
Beyond ugly, not helped by Silver in the mid $25s. Next support 11.80/70s, which might sync with the sp’4250/40 zone.
Time to check on the cheerleaders…