US equities continue to power upward, for what is an impressive start to the week. WTIC has printed $75.73. Gold $1814. Silver $23.12
sp’60min
VIX’60min
Summary
Suffice to add… we’re s/t over-stretched. Arguably, the bears will opportunity for some cooling Tues-Thurs….. but maybe we’ll just churn sideways, rather than any degree of downside.
*I’ve lightened up some more in FCX. Should hold the rest.
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notable stock: TSLA
Last week saw Tesla punch in a short/mid floor, with a bullish engulfing candle. As I like to say… ‘main market implications’.
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notable weakness: PTON
A more natural floor would be 31/psy’30 zone. Even at that price, I’d not be interested.
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notable strength: AMD
AMD powering upward with the main market… as psy’ $200 appears probable by late spring. Momentum has turned positive.
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notable steel: X
Much like the miners and energy… an early upside reversal. Soft target $25s.
Time for a light lunch…