US equities open choppy, if still breaking a marginal new cycle high of 4393. VIX continues to churn the 14s.
sp’60min
VIX’60min
Summary
*with a new cycle high, basic fib’ retrace has climbed to 4282.
VIX daily momentum offered a floor/turn yesterday.
Just checking the SPX daily, and we’ve a subtle provisional turn.
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notable stock: DIS
Earnings were broadly ‘fine’. However, there was no real news of significance, and a number have noted, there was no mention of a return to dividends.
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notable Dow component: MSFT
Microsoft near a new hist’ high. Threat of a m/t double top.
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notable energy: OXY
Higher with the main market, and oil $76s
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notable tech: SONY
Post earnings depression.
King of tech in the 1980s, but these days, its not just mentioned that much.