US equities are moderately higher, which is impressive considering its the lead into Christmas. VIX 17s are reflective of a very calm mainstream/market, as Omicron concerns are rapidly fading… much like the virus. WTIC printed $73.70.
sp’60min
VIX’60min
Summary
Suffice to add… we appear set for net daily gains. In theory, we should see increasing churn this afternoon, as many quietly walk away.
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notable stock: TSLA
An impressive move upward. As I said two days ago… if Tesla has a short/mid term floor, ‘main market implications’.
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notable laggard: CLF
Cleveland.. along with US Steel, still massively lagging the main market. I have to expect them to catchup sooner or later. Bulls need to see the $22s for renewed confidence.
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notable stock: X
US Steel fairing better than CLF today, but still… its at very subdued levels. I’d like to see the $25s for renewed confidence.
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notable miner: FCX
Freeport has printed $41.00…. nearing a few aspects of resistance in the mid $41s. I’m getting increasingly tempted to lighten up. Broadly though… the 2011 historic $48s should be cleared in Q1.
Time to check on the cheerleaders…