US equities are impressively still clawing upward, with the SPX having tagged teal gap. Now the only issue is whether we get a full fill to 4432, before a probable retrace.
sp’60min
VIX’60min
Summary
Its extremely difficult to see the market continuing a straight push upward once the Fed is out of the way…. not that I’d short anything. The more cautious will be quietly exiting.. at least partly.
–
notable stock: FB
Yesterday’s black candle played out. There is background chatter about the ‘ill effects’, not least on teens. So… err, how exactly does anyone think that will be resolved, other than by just not using it?
–
notable bond ETF: TLT
Bonds/yields churning ahead of the Fed. Clearly.. no rate hikes today, but the 2022 outlook might lean more so. The $150s are clearly important, and roughly equate to the US 10yr around 1.30%.
—
notable fin: BAC
Banks higher with the main market. M/t bullish with higher yields/rates into 2022. Big target is psy’ $50.
—
notable airline: UAL
United reflective of the sector. Things turn decisive >psy’ $50.
Time to check on the cheerleaders…