US equities remain in minor chop mode… leaning on the weaker side. WTIC printed $82.80.
sp’60min
VIX’60min
Summary
Little to add as the minor chop continues. SPX should settle net lower to some degree.
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notable Dow component: BA
The break of support is decisive. I’d note legacy gap of 170/150s. I do NOT expect it to fully fill… but a tag of the 170s looks a threat.
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notable weakness: F
Dragged lower by GM on supply chain concerns. Momentum has turned negative, as the setup favours the bears for earnings – due in AH.
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notable bond ETF: TLT
Bonds are sig’ higher, as yields are (naturally) sig’ lower. Spurious s/t action. M/t remains clear.
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notable miner: FCX
Freeport leading the way lower. Momentum to turn negative on Thursday. Target 35/34s… red gap 32/31s. The latter would be a dream!
Time to check on the cheerleaders…