US equities has begun the week on a significantly positive note, with the SPX pushing to re-take the 200dma (5752). VIX has already been ground into the 18s.
sp’60min
VIX’60min
Summary
The s/t bulls have little to prove. Whether the 200dma is cleared today, tomorrow, or a little further out… doesn’t much matter.
The real resistance is around 5900… as looks realistic next week.
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notable stock: TSLA
Largely reflective of the main market. Soft target is the 200dma.
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notable weakness: LMT
Lockheed is still struggling after last Friday’s loss to Boeing of the F47 contract. I’d imagine its largely due to frustration with the F35 budget which spiraled out of control.
BofA, buy>neutral, 685>485
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notable semicon: NVDA
Soft target are the intersecting 50/200dma.
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notable miner: FCX
Freeport higher with the main market, and further helped with Copper printing $5.18, as a new hist’ high (>5.20) is clearly viable in the immediate term. Friday’s spiky hollow red reversal candle played out.