US equities are broadly lower, but price action isn’t indicative of anything other than a s/t washout. VIX is holding under the pre-market spike high of 20.77, and will be highly prone to being ground back lower into the weekend. USD +0.5%, printing 92.40s. WTIC has impressively pushed to $71.82.
sp’60min
VIX’60min
Summary
A new intraday low of sp’4172… 2pts above yellow gap. The micro 5/15/60min cycles are all oversold, as the afternoon should lean to the bulls. Best guess… the market makers get their way, with a quad-opex settlement around sp’4200.
–
notable Dow component: INTC
Jefferies maintain ‘hold’, p/t 59>54. The 200dma should hold… in the $54s.
–
notable weakness: X
US Steel is still struggling. Absolutely… still m/t bullish, but I don’t currently own.
—
notable strength: NVDA
BoA maintain buy, 800>900. 4 for 1 stock split… July 20th.
—
notable agri’: MOS
Mosaic trying to secure a reversal candle. RSI <30… oversold. I hold.
Its cheerleader time, but I can think of other things to do…