US equities are choppy, but broadly leaning on the weaker side, lead lower by the R2K and Nasdaq comp’. VIX is churning the 17/18s, as the 19/20s appear realistic early Friday with the sp’4329/20 zone. USD +0.3% in the 92.70s isn’t helping!
sp’60min
VIX’60min
Summary
Red gap looks set to be tagged or fully filled Friday morning, before broad chop into the weekend. I’m still expecting the 4250/40s… and the patient will remain so.
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notable stock: AMD
Early gains (helped via TSM earnings, and Citi upgrade) faded, with AMD set for very sig’ net declines.
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notable weakness: OXY
As an interested buyer, it remains outright pleasing to see Occidental cool back. The $25s appear due next week… with sp’4250/40s.
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notable reversal: X
Early sig’ gains faded, with US steel now sig’ lower. Computer’s PF target $16s remains a concern.
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notable industrial: AA
Alcoa has earnings in AH, which should show improvement. The stock is s/t bearish with the main market, as momentum is outright negative.
back at the close…