US equities are choppy, if holding broad gains. VIX has been ground into the 13s. The USD is -1.0% at DXY 100.40.
sp’60min
VIX’60min
Summary
Clearly, 4500 might even be printed today.
Daily momentum is due to turn positive on Thurs’.
I see zero point in being short anything until at least the next Fed day of July 26th.
Prime longs would be via energy, but I’m not in the mood to get involved.
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notable bond yield proxy: TNX
The US 10yr is lower on the notion the fed might ‘extend the pause’, and wait until Sept’.
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notable bank: BAC
Higher with the main market.
The concern should be… no rate hike.
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notable energy: OXY
Reflective of the sector, with WTIC printing $76.08 ! Any price action >78 would be decisive, and offer a grander run to psy’ $100.
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notable miner: AG
Silver miners powering upward, helped with Silver printing $24.23, the latter especially helped by the weaker dollar.