US equities are choppy, if leaning upward from the early low of sp’5773. WTIC $78.14, as a daily close >$78.00 would formally open the door to the $88s, as appear realistic in March.
sp’60min
VIX’60min
Summary
Note the opening 30/60min candle is a hollow red reversal, with a mirror black VIX candle. 5773 is probably the floor this week… having filled Trump gap. The s/t cyclical setup favours the bulls into PPI-Tuesday.
I comfortably hold the quartet of CLF, OXY, INTC, SMR
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notable stock: AAPL
Not so pretty… under key support.
Based on the main market outlook though, Apple should soon find a floor.
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notable defence: LMT
A key m/t floor appears in… from around a key price threshold.
Trump will surely increase defence spending.
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notable semicon: INTC
The $18s need to hold.
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notable steel: CLF
… is pleasing to see, with Cleveland partly pulled upward by sister X.
The $11s look due before the long weekend.
time for lunch