US equities are choppy, if broadly weak, not helped by the US 10yr printing a new cycle high of 3.70%, and the USD +0.6% at 111.07.
sp’60min
VIX’60min
Summary
Its now merely a case of whether you think 3700 acts as a s/t floor, with a bounce into early/mid Oct’, … or just straight down. From a pure cyclical perspective, the s/t setup does NOT favour the bears.
I can’t be involved.
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notable Dow component: AAPL
Reflective of the main market. On a bounce… teal gap would be natural target.
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notable semicon: INTC
S/t oversold… and increasingly prone to bouncing.
M/t bearish 21/20.. as on track by around early Nov’.
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notable energy: RIG
Yet another reminder… this one is broken, and looks due a foray into the $1s by early Nov’.
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notable bond ETF: TLT
Any price action in the 103s would merit alarm bells, with open air to the 82s… which perhaps equates to the US 10yr around 5.0%.
Time for a much needed lunch…