US equities open in minor chop mode, as the market is s/t cyclically on the high side. USD is -0.4% at 96.92… which is helping prop up most things.
sp’60min
VIX’60min
Summary
We have to expect considerable chop. The s/t cyclical setup favours the bears. Its really a case of just how the month settles, but regardless of the exact settlement, its been a rough January.
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notable stock: AMD
AMD catching some buyers ahead of earnings… due Tues’ AH. The monthly chart looks horrific.
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notable stock: NFLX
Helped by a Citi upgrade, and CEO Hastings buying 50000 shares.
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notable stock: TSLA
Bears should be seeking a close under the monthly 10MA… around $835… not that its necessary to ensure lower lows in February.
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notable miner: FCX
A very rough month, net lower by around -13%. Might settle with a bearish engulfing candle, which threatens a collapse to the $23s. Even to me… its pretty unbelievable.