US equities remain a little choppy, with most indexes set for net daily gains of some degree. As things are, the SPX is set for a net weekly gain of around +3.4%. The VIX is due for a weekly settlement under the key 20 threshold, which will be seen by the algos as another equity buy signal.
sp’60min
VIX’60min
Summary
Regardless of the exact close, its been a net bullish week. With the CPI data out of the way, that just leaves next Wednesday’s FOMC. I comfortably sit back… and await the bell!
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notable Dow component: AAPL
Apple isn’t the be-all of the US equity market, but its soon to break >$3trn, which is more than many national economies.
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notable stock: F
Ford is on track for the 1999 historic $23s… perhaps even before year end. From there…. psy’ $30.
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notable health: MRNA
The current reversal candle leans bullish for Monday, as we’re another day closer to the next big push, which will be for a mandated flu vax.
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notable miner: FCX
A disappointing end to the week for Freeport, and reflective of many commodity stocks. I ain’t selling anything until 40/41s.
back at the close…