US equities open a little choppy, if leaning on the weaker side. VIX 16s are reflective of near zero mainstream concern. WTIC is churning the $69s, as a push above psy’ $70 remains viable before the weekend.
sp’60min
VIX’60min
Summary
Whilst it is a Thursday, its difficult to see anything beyond a moderate cooling wave. Even yellow gap around 4400 looks out of range.
Yours truly is content to sit back, seeking a grander move to sp’4900/5100, before high threat of a correction, never mind a m/t top.
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notable stock: PLTR
Earnings were better than expected, but still mediocre. I’d expect the lunatics of Wallstreetbets to start giving this one more attention again.
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notable weakness: MU
Morgan Stanley downgrade to the $75s… as momentum has turned negative.
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notable steel: X
US Steel seeing some weak leaning chop. I really should be back onboard one of the steel stocks, but I need to sell something first.
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notable fin: HOOD
The hysteria continues to fade in Robinhood… as volume is itself drying up.