As Powell continues to issue the usual fedspeak nonsense, US equities are set for net daily gains of some degree, as Mr Market is happy to play the ‘its Transitory’ card into 2022. WTIC prints $72.30, with Gold $1788s, Silver $23.15.
sp’60min
VIX’60min
Summary
*yes, we have a little cooling wave in equities, with VIX reversing upward. Its arguably just s/t cyclical factors.
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We’re s/t cyclically overbought, but some stocks offer higher highs on Thursday, which would equate to sp’4430/4440s. Overall, the bulls should be very pleased with things.
The bears can tout a s/t broken market, until we’re >4485/86, and >4500 to be decisive. To counter that…. bulls have commodities powering upward.
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notable stock: BB
Blackberry has earnings in AH. Not a company I follow.
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notable stock: KBH
K B Home has earnings in AH.. which should be reasonable.
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notable strength: OXY
Very powerful gains… and today’s candle bodes for higher levels on Thursday. The Oct’1st $30 CALL buying is also good to see.
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notable miner: FCX
Freeport powerfully higher with copper printing $4.27.
back at the close…