US equities open a little choppy, if leaning on the upward side. WTIC $73.72.
sp’60min
VIX’60min
Summary
It should be clear… there is no downside power.
As I said last Friday…. net bullish into August.
The s/t cyclical setup favours the bulls into early Tuesday, when Powell is due before the US House.
–
notable semicon: AMD
A recent bullish break >200dma, as green gap remains target
—
notable energy: OXY
Initial gains of around +2%, but the sellers have appeared from the 200dma within green gap.
—
notable car: TSLA
Ives of Wedbush… touting $500, after a ‘very impressive’ Robotaxi ride in Austin. Friday’s black candle is not going to play out. Momentum is due to turn positive on Tuesday.
–
notable miner: NEM
New multi-year high.
Friday’s hollow red reversal candle played out.
Cyclically high, and the cautious will be raising their stops.