US equities are leaning on the weaker side. As its OPEX, bears can’t expect anything significant/sustained today… at least in terms of the indexes. WTIC printed the low $70s… which sure isn’t helping energy stocks.
sp’60min
VIX’60min
Summary
Suffice to add… the opening reversal candles played out. Yours truly remains very content to sit back, and wait until next week. Targets remain: SLB, OXY, RIG, X, EA
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notable stock: X
US Steel remains a s/t mess. Computer’s PF target of the $16s continues to spook me. I remain an interested buyer.
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notable weakness: OXY
Early sig’ gains…. to powerful declines. Not pretty, as the $25s appear a given.
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notable stock: AMZN
Amazon just seeing a retrace, as momentum has turned negative, set to back test old resistance of the $3550s.
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notable miner: FCX
Freeport seemingly inevitably set to test the 200dma next week around psy’ $30. I hold.