US equities remain in minor chop mode, if still mostly leaning on the positive side. USD is -0.5% at 92.58, which is certainly helping commodity land.
sp’60min
VIX’60min
Summary
Five hours left of the week… and we can expect them all to be further chop. I’d accept hourly RSI 70s are on the high side, and the cautious will not be chasing here.
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notable stock: AMZN
Amazon should be able to build a floor from around the 200dma. If correct, main market implications into early Sept’.
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notable bond ETF: TLT
Bonds are sig’ higher, as yields are cooling back. Multi-month price structure in bonds is a bear flag, as I have to expect broader upside in yields into 2022. So long as its slow… the market won’t much care.
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notable bank: BAC
Banks cooling back… but that is after a pretty strong run. Today’s lower yields clearly aren’t helping. I hold, m/t bullish psy’ $50, which really isn’t bold.
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notable miner: AG
First Majestic powering upward, but this is indeed still a short/mid term mess. I hold, and whilst I’m tempted to add… I’m already overloaded in this sector.
time for lunch…