US equities open in minor chop mode… if leaning on the weaker side. WTIC is churning the 71/70s.
sp’60min
VIX’60min
Summary
Choppy… if leaning on the weaker side, but really… its all noise, after last week’s powerful gains. The s/t cyclical setup favours the bulls…. as is usually the case of the Fed.
I’m open to equity orange gap with green gap VIX… before the Fed. Regardless… the m/t trend remains bullish.
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notable stock: AAPL
Apple needs the mid $182s or so for $3trn. I’d accept this one is cyclically wildly over-stretched.
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notable weakness: OXY
Energy stocks cooling back with WTIC printing the $70s. I hold
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notable airline: UAL
Background chatter – not least from the UK, on Omicron. Shippers similarly impacted.
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notable steel: X
Any main market weakness will be a problem to this one. I hold.