US equities remain choppy, mostly leaning on the weaker side. The Nasdaq is really struggling by around -1.2%, with the Trans -0.8%. WTIC has printed $98.76.
sp’60min
VIX’60min
Summary
As things are, all the main indexes are set for net weekly declines.
The s/t cyclical setup favours the bears into the close.
Multi-day price structure in the SPX is a bear flag, with a mirror bull flag in the VIX.
I’d be mindful we might see a mild case of ‘rats selling into the weekend’. Perhaps a LePen victory this Sunday would be enough to see the European markets smashed on Monday, pulling the US lower?
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notable stock: AMD
Mr Market set to wash out the psy’ $100 stops.
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notable Dow component: BA
A rough landing for Boeing into the weekend. The March low is set to be taken out… probably next week.
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notable strength: IPI
Intrepid Potash is a valid alt’ to Mosaic (MOS), and who couldn’t use more fertiliser this summer?
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notable miner: LAC
An outright ugly end to the week for Lithium Americas. S/t bearish… l/t hyper bullish. The cautious would lean to the established ALB.
*I’ll endeavour to cover some things on Twitter, into the close…