US equities are choppy, but still leaning on the upward side. S/t momentum is on the high side, as a rollover is due late today… or a more viable ‘turnaround Tuesday’.
sp’60min
VIX’60min
Summary
I suppose I could chase… but no. I don’t have to do anything. Lets see how high the maniacs will drive this before another wave lower. Many appear to see current price action as some kind of B wave, before resuming powerfully lower.
Arguably, the ‘smart ones’ are using all bounces as a means to escape, before further problems in February… if not until the Winter Olympics (Feb’4-20) are out of the way.
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notable Dow component: AAPL
A second day higher, as momentum is due to turn positive.
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notable energy: RIG
Reflective of the sector, as many of the energy stocks are struggling.
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notable steel: X
Reflective of the commodity stocks. Can’t go down every day.
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notable miner: FCX
Freeport battling upward. Red gap appears a given within Feb’.
Time to check on the cheerleaders, although if no Pete… I’m hitting MUTE.