US equities remain in minor chop mode. VIX is churning the 17s… and still looks prone to spiking to the key 20 threshold before year end.
sp’60min
VIX’60min
Summary
Little to add. It’d be useful to settle -10/15pts, and then a big Thursday drop. However, its difficult to see the excuse… other than weaker world markets pulling the US lower.
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notable stock: BABA
The Chinese stocks are broadly struggling. Chatter that Alibaba might sell its Weibo stake. Momentum prone to turning negative.
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notable energy: XOM
Exxon leaning weak. S/t vulnerable with the main market. I hold.
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notable stock: F
I’d note the 50dma in the low $19s… might come close to it, but we’ll need sp’4720 or lower.
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notable miner: GOLD
An upside reversal in gold is helping pull the miners higher. A bullish engulfing daily candle would be useful. Note the 50dma in the $19s.
Time to check on the cheerleaders… as Pete is in the house!