US equities are set to close rather mixed. Nasdaq comp’ is close to breaking a new hist’ high, which will garner some mainstream attention. VIX is churning the 17/16s, set to be ground lower into quad-opex/weekend.
sp’60min
VIX’60min
Summary
Frankly, the equity bulls should be VERY pleased with today, as the market is broadly just in chop mode. Again, I’d not expect anything from tomorrow, other than broad chop.
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notable stock: ADBE
Adobe has earnings in AH, which should be superb, with a positive outlook. Mr Market loves a subscriber based business model… as does yours truly. Cyclically… high. Bulls could argue s/t price structure is a bull flag.
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notable stock: SWBI
Smith & Wesson has earnings in AH, which should be fine, as the American consumer can’t get enough guns. Cyclically low.. testing the 50dma.
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notable strength: NVDA
A new hist’ high, helped by Jefferies. The July 20th stock split will likely pull in some extra retail buyers.
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notable miner: FCX
Freeport settling above the lows, but still… its been one ugly day, with copper printing $4.15. Cyclically on the extremely low side. I hold.
back at the close…