US equities open moderately higher, and are building broad gains. The fact we’ve already cleared teal gap is especially impressive. SPX is challenging the 50dma 4437. USD is -0.4% at 93.11. WTIC has printed $72.77.
sp’60min
VIX’60min
Summary
Well, for the bears… this is a truly lousy morning, as Mr Market is re-taking key supports. Whether it can hold them… we just have to sit and watch.
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notable Dow component: AAPL
Apple is making a play to re-take the 50dma. If >psy’ $150 (whether this week or next), it’d give renewed confidence.
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notable energy: OXY
Occidental higher with the main market. It’d sure help if WTIC can push into the $73s. I hold for the 31/32s.
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notable weakness: GOLD
Barrick Gold reflective of the sector, with gold printing $1751. The latter is especially lousy, considering the weaker dollar.
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notable miner: CLF
Cleveland pushing upward… as we have a good floor from around the 200dma. M/t bullish 39/40.