11am update – morning weakness

US equities are choppy, if still leaning on the weaker side. Gold $2639… which is more impressive considering the dollar, currently +0.3% at 100.59

sp’60min

VIX’60min

Summary

S/t momentum remains due to turn negative.
A quad-opex pin around 5650 remains viable.


notable stock: NKE

The gains continue to erode, as the smarter rates know a new CEO won’t be able to change weak consumer demand.

notable weakness: TSLA

Lower with the main market, having almost fully filled green gap.

notable energy: VLO

Valero is lower on Piper Sandler, 169>123

notable miner: FCX

Freeport lower with the main market, and with copper $4.33

Time to cook.