US equities remain choppy, if still leaning on the weaker side.
sp’60min
VIX’60min
Summary
Little to add.
I have to think there is high threat of some late day cooling towards 4100.
–
notable bond yield proxy: TNX
Yields are higher… with rate hike TEN of 25bps, due May 3rd.
Broader price structure is a giant bull flag, and is highly suggestive of 5%, with secondary of 7%.
Its arguable that any severe upset about the US debt ceiling and/or Dollar, would send bond prices collapsing, with the US 10yr around 7%. The latter would arguably sync with sp’2000/1500.
–
notable fin: SCHW
A second day lower. The problems will likely be concerns about further bank runs, and the main market.
—
notable trans: UAL
A second day lower. Those stupid enough to have been buying into the (lousy) earnings are getting ground down.
—
notable miner: LAC
The Chile nationalisation of its Lithium mines, makes US domestic lithium mining even more important!