US equities are significantly higher. The only issue is whether Thursday sees a washout… before resuming upward to the 4600s. The bulls should be able to hold things together until the Winter Olympics have wrapped.
sp’60min
VIX’60min
Summary
Little to add. For the bears this is annoying… much like last Tues>Wed’. For the bulls… whilst we’re pushing upward, the market remains ‘broken’.
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notable stock: MGM
MGM Resorts has earnings in AH. Cyclically high, but you’d have to be crazy bold to short it.
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notable stock: CFVI, 60min
S/t momentum is in the process of turning negative. Bodes problematic into early Thursday.
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notable steel: CLF
Higher with the main market. Earnings due early Friday.
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notable miner: FCX
Freeport powering upward with copper printing $4.54. Momentum has turned positive.
time for lunch…