US equities are in micro chop mode, but its still enough for a new hist’ high of sp’4572. VIX 15s are reflective of a very comfortable mainstream. WTIC printed $83.39, slightly pressured by a stronger dollar, +0.2% at 93.79.
sp’60min
VIX’60min
Summary
Well, regardless of the exact close, its been a bullish start to the week. S/t momentum has turned positive, and should keep things propped up into the close/early Tuesday.
—
notable stock: FB
Facebook has earnings in AH, which should be fine, but the stock looks very vulnerable. A break of the 200dma would offer a washout to psy’$300/280 zone. To be clear though, I don’t like any shorts in this market.
–
notable stock: TSLA
Tesla breaks above giant psy’ $1000, with the market cap’ breaking >$1trn, and its only late Oct’. How long until the next stock split?
–
notable steel: X
US Steel powering upward, with earnings due Thurs’ AH
–
notable energy: KMI
Despite today’s gain, momentum is increasingly negative, as the little red gap still looks due, where I’d be a comfortable buyer.
back at the close…