US equities remain in minor chop mode. Another push upward to the sp’4160s appears due early Tuesday. Gold has printed $2037, with the USD u/c at 101.02
sp’60min
VIX’60min
Summary
Little to add, as we’re just burning off s/t overbought conditions.
I’d look for a lower/divergent cycle high on Tuesday.
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notable Dow component: DIS
Morgan Stanley ‘overweight’, 115>120.
Earnings due Wed’ AH
The concern should be DisneyPlus subs, as consumers cut back.
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notable defensive: LMT
No news… as the stock is battling to hold the 200dma.
I’d accept this is valid l/t hold… not least on the threat of a geo-political shock.
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notable trans: AAL
JPM 26>29.
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notable health: MRNA
Not helped by lousy earnings from sister BioNTech (BNTX)