US equities remain choppy, still leaning on the weaker side. VIX is churning the 20s, as the mainstream are relatively calm ahead of the last big econ-data print of the year. USD is +0.5% at 96.33, which isn’t helping commodities.
sp’60min
VIX’60min
Summary
Suffice to add… the market is a bit more less overbought. I am open to equity orange gap… with VIX green gap, but that’d make for a higher equity low, before resuming upward into next week’s FOMC.
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notable Dow component: INTC
A truly lousy performance considering the chatter that Intel will spin off MobilEye.
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notable weakness: PTON
Peloton is back on the slide… not helped by the main market. Is a m/t floor in? Maybe, but I consider the stock untouchable, there are just so many better things out there.
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notable Dow component: BA
Boeing just cooling back. Should reach next resistance of the 225/226s before year end.
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notable steel: X
US Steel pressured by the main market. I resiliently hold!
time to check on the cheerleaders. Maybe they’ll drag on the Tom Lee?