US equities are very choppy, if still mostly leaning on the positive side. Bears can argue we’re just burning off s/t oversold conditions, before another swing lower. Next support are the mid/low 3800s.
sp’60min
VIX’60min
Summary
In theory… green gap should act as massive resistance for the remainder of the week. It’d also make for a place to short from. VIX is on the cyclically low side.
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notable Dow component: BA
M/t broken with the main market. I’d keep in mind the 2020 collapse low of the $89s.
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notable stock: RBLX
Well, at least I didn’t short this one. I was tempted… but there are safer things to be shorting, not least just an index. Roblox remains m/t horror, and the current bounce is just mostly short-covering.
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notable strength: AMD
I’d quite like to short this one. Not sure I’m in the mood for that though, as my mind is cluttered with ‘other things’.
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notable miner: FCX
Freeport catching a bounce, helped by copper printing $4.25.
Time for the cheerleaders. Pete will be in the house, so mute button OFF !