US equities open a little choppy, if leaning on the upward side. WTIC printed a new cycle high of $85.38, with Nat’ gas $5.88.
sp’60min
VIX’60min
Summary
The gains are pretty shaky, with most indexes having already turned red. The problem for the equity bears… we’re s/t cyclically low. Yours truly remains content to sit back and wait for lower prices. I am NOT going to chase this.
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notable stock: TSLA
New historic high. Helped with MS 900>1200. I can’t argue against that, given 3-6mths.
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notable stock: FB
We have buyers from the 200dma, whilst Facebook is a little twitchy ahead of earnings… due in AH.
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notable steel: CLF
S/t very over-stretched. M/t bullish 39/40.
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notable miner: GOLD
Gold miners appear to have a m/t floor. Soft target $22.20… but s/t vulnerable with any main market cooling. Gold itself printed $1811, things turn real interesting with the $1837s (>1850 to be decisive).