US equities are choppy. S/t momentum continues to subtly weaken, and is due to turn negative before today’s close. Right now, the bears could seek the 4720/4700 zone, before resuming upward.
sp’60min
VIX’60min
Summary
A new hist’ high of 4807, but this market IS tired. The s/t cyclical setup threatens a little washout. Some ‘spooky news’ would help, but its difficult to see where that might come from.
Yours truly has eyes on F, FCX, MOS, CRSR, CFVI
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notable Dow component: AAPL
It doesn’t look like Apple can reach the $182s for a $3trn market cap’ today.
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notable weakness: X
US Steel sure is lagging. I hold X and sister CLF… and I’m certainly looking to lighten up if I can get breakeven or better.
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notable tech: MU
Micron just cooling back. Giant psy’ $100 remains due… if not until mid/late Jan’.
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notable stock: F
I have to see any cooling as a buying opp’, with next target of the 1999 historic $23s. That isn’t bold within 1-2 weeks.
As night falls, its time for lunch…