US equities are moderately choppy… whilst the s/t cyclical setup favours the bulls into next week. VIX is churning the 20/19s, as a weekly settlement <20 appears probable.
sp’60min
VIX’60min
Summary
Suffice to add… chop chop, if mostly leaning on the positive side. With CPI out of the way, the bears have little other than hope the market will be spooked by the Fed/Powell next Wednesday afternoon. I do NOT fear the taper, nor higher rates, the latter of which the fins/banks need for 2022!
–
notable stock: F
Recent weeks saw sideways chop, rather than any real cooling. The buyers are piling back in, with positive thoughts of 2022.
–
notable Dow component: DIS
Disney cooling back a little, but teal gap looks due before year end.
—
notable steel: X
A lousy end to the week… JPM 35>31
—
notable bond ETF: TLT
Higher bonds… with yields cooling back a little. Broadly… nothing has changed. Rates are going to have to be raised 2-3 times in 2022.
Its time for the cheerleaders… Pete is in the house, so mute button OFF !