US equities remain in minor chop mode. For now, the SPX remains stuck under 4238, but neither are the bears able to muster anything significant/sustained. Thursday threatens a big move… one way or another.
sp’60min
VIX’60min
Summary
Well… its pretty tedious, as the battle continues. We’re close to a breakout, but the market feels damn tired. This Thursday’s CPI data will likely be key, as to whether we see the 4400s… or first cool to 4000. I’m still guessing the latter, and remain content to sit back and wait.
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notable stock: TSLA
Tesla appears set for net declines of some degree. Still short/mid term broken, and most realistic bearish case remains psy’ $500.
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notable stock: X
US Steel seeing a very powerful swing from early sig’ declines. M/t bullish, but very vulnerable if the main market takes a swing lower.
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notable strength: TGT
New hist’ high, largely due to UBS, finally joining the party.
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notable Dow component: AAPL
Apple choppy with the main market. Today’s candle is distinctly spiky from the 50dma.
back at the close…