US equities have turned positive (if briefly) as daily momentum is increasingly positive. For the bears… its annoying, but there is massive resistance in the low/mid 4600s.
sp’60min
VIX’60min
Summary
*s/t equity momentum is ticking lower, and threatens to turn negative this afternoon.
Whatever you make of this morning’s price action, this market remains broken. Bulls need >4650 ( to be decisive ) to drop the concern that we’ll resume lower once OPEX is out of the way.
Yours truly is NOT meddling. I can’t be short, but neither can I be buying anything. No way.
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notable stock: TWTR
News of the $4bn buyback is helping. The stock remains m/t broken, with natural target of the $25s.
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notable energy: OXY
Occidental powering upward.
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notable bond ETF: TLT
Lower bonds as yields climb.
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notable miner: FCX
Freeport very resilient… helped with copper $4.70.