US equities remain in minor chop mode. VIX has been ground back lower into the 16s, as the mainstream have near zero concern ahead of the next CPI. USD is +0.1% at 101..13
sp’60min
VIX’60min
Summary
Little to add… for what has been a day of minor chop.
S/t overbought conditions have been burnt off by around 40%, which is enough for another up wave early Tuesday. The issue is whether CPI-Wednesday will break a new high.
I want to re-short with the 4160s… or preferably 4170/80s.
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notable stock: PYPL
Paypal has earnings in AH.
The stock remains m/t horror.
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notable stock: DVN
Devon Energy has earnings in AH, which will be very good. The stock is m/t broken.
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notable strength: AMD
Recent news that MSFT is partnering up… is arguably still helping.
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notable horror: TSN
Outright horror for Tyson Foods, as the US consumer is cutting back. Q2 has to be expected to be more difficult.
back at the close…