US equities remain choppy, leaning on the weaker side, with the SPX set for a net weekly decline of around -1.0%. VIX 18s aren’t anything for the bears to get hysterical about. USD is +0.1% at 92.60, and its keeping a lid on most commodities, with WTIC stuck in the $69s.
sp’60min
VIX’60min
Summary
It remains a s/t series of lower highs and lower lows. I’d note the 1pm high of 4497. Bulls should be hoping for a late day ‘bears cover’ push to psy’ 4500… not that its necessary. Overall price action sure is sleepy… as yours truly is.
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notable Dow component: AAPL
I see there was a legal ruling about apps, but it seems inconsequential, and certainly doesn’t justify today’s drop. Next Tuesday’s event should be a major positive.
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notable stock: EA
Electronic Arts catching a bid… no news. Battlefield 2042 is coming next month, and the gamers can’t wait. Mainstream are NOT aware of just how popular the new BF should become.
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notable stock: GSAT
There is an element of ‘Wallstreetbets’ buying, and there remains next Tuesday’s Apple event. A burst to the $3s or $4s appears the real threat.
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notable miner: FCX
Freeport ending the week on a very strong note, helped with copper printing $4.46. Psy’ $5.00 appears an eventuality.
back at the close…