US equities open moderately higher, but the gains are rather shaky, as underlying daily and weekly momentum is increasingly negative. VIX is cooling back. USD is +0.2% at 105.24. WTIC prints $91.33.
sp’60min
VIX’60min
Summary
Those chasing the open will be at risk of getting washed out before the weekend, not least based on the daily/weekly charts.
*I’m a little frustrated I don’t have any cash of significance to re-short.
I should skim off something, either with 4300 (if today), or with sp’4240 next week.
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notable bond yield proxy: TNX, 60min
Ongoing price action is bullish consolidation.
Structure is a clear bull flag.
Soft target 4.70/4.75% next week. Secondary psy’ 5.00%
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notable Dow component: AAPL
Reflective of the main market.
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notable semicon: NVDA
Zero reason not to expect further downside.
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notable strength: OXY
Bouncing with the main market, and helped with WTIC $91s