US equities are choppy, if still leaning on the weaker side. Regardless of the rest of today, the threat remains a ‘hotter than expected’ CPI print. WTIC printed $80.12.
sp’60min
VIX’60min
Summary
A daily close >4700 looks a stretch, and by late afternoon, the hourly cycle will be on the high side.
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notable stock: X
US Steel whacked with the sector, due to Wolfe Research. I still really like the stock (same for CLF), but will wait another 1-2 days.
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notable weakness: F
Ford lower for a third day. Cyclically… still high.
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notable strength: OXY
Energy stocks are (annoyingly) strong, helped with WTIC $80s. I will not chase this!
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notable stock: MOS
Mosaic remains s/t tired… due further cooling, as momentum is due to turn negative. I’d like the 50dma $37s.
Time for a light lunch…