US equities are choppy, if clawing upward… as the market is burning off s/t oversold conditions. Its notable that daily momentum is still increasingly negative, and will be a restraint on all such bounces. USD is -0.6% at 108.38, which is especially helping commodities. WTIC prints $94.22, with NG $10.03.
sp’60min
VIX’60min
Summary
We’re stalling at first resistance of the hourly 10MA. Bears could argue s/t price structure is setting up a bear flag. On balance… we should be net higher across the next day or two.
–
notable stock: AMD
Leading the main market back upward.
–
notable energy: SLB
Higher with the sector, and helped with WTIC $94s.
—
notable shipper: CCL
Just a bounce… still abject m/t horror.
—
notable miner: GOLD
Helped with gold printing $1767…. the latter helped with the weaker dollar.
Time for a much needed lunch…