US equities open choppy, if leaning a little weak. VIX is churning the 22/23s… as the market is rightly a little twitchy about the PPI data, and its implications for interest rates in Q1. Gold printed $1819, if cooling back to $1809. USD is +0.1% at 104.82.
sp’60min
VIX’60min
Summary
Well…. the pre-market swing +20 > -25pts was interesting, but the current style of price action bodes for considerable chop into the weekend.
I’d argue downside yellow gap is valid unless >4K, and the latter does NOT look likely today.
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notable Dow component: BA
Boeing has been a market leader for some months… and certainly argues against the ‘crash callers’.
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notable weakness: AMZN
I’d accept the $85s could hold, with a tag of green gap into year end/early January. Broadly… it still looks on track for psy’ $50
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notable semicon: AMD
Bears need to see this one sustainably lower to have hope of SPX yellow gap.
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notable stock: LULU
The irony is that headline earnings were actually good. Its arguably just a case of ‘sell the news’.
time to catch a sunset…