US equities are choppy, if battling to moderate gains. Mr Market remains s/t cyclically over-stretched, but there is little reason to expect anything other than increasing chop into Christmas. VIX has been ground into the 17s, as a weekly settlement under the key 20 threshold is assured.
sp’60min
VIX’60min
Summary
Chop chop… chop, but it remains impressive how close we are to breaking a new hist’ high.
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notable stock: F
Ford seeing moderate chop, as its still consolidating from early November, before the next push to challenge the 1999 historic $23s. I’d like to be back onboard before end month/year… but I’ll have to sell something first to pay for it.
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notable weakness: MRNA
Moderna and to a lesser extent – Pfizer, lower on reduced Omicron concerns. .
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notable energy: XOM
Momentum should turn positive next week. I hold from yesterday ($60.24). Broadly… target is psy’ $70.
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notable stock: TSLA
Tesla seeing some chop, but resuming upward, as momentum is due to turn positive. Does anyone doubt new hist’ highs in Q1 2022?
Time for lunch…