US equities open on a weak note, as the battle has resumed to determine how March settles. VIX has picked up to the 24s. WTIC printed $114.48.
sp’60min
VIX’60min
Summary
Early weakness… as the technical divergence is playing out. Note orange gap… but more so, the lower bollinger in the low 4400s, which should be hit by late Thursday.
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notable hysteria: GME
Partly helped by news Chairman Cohen’s investment company bought more stock.
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notable energy: OXY
Energy stocks higher with WTIC $114s. Even the bold will be tightening their stops.
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notable oil ETF: USO, 60min
WTIC printed the $114s. So many gaps!
Power/Energy is everything, and this caught my attention…
Indeed, any shortage of Diesel, and it’ll be a massive drag to the US/global economy.
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notable miner: LAC
Lithium chatter…
https://www.zerohedge.com/commodities/lithium-prices-have-nearly-doubled-2022-amid-insane-commodity-rally
To be clear though, Lithium Americas – https://www.lithiumamericas.com
is on the speculative side. The cautious will lean to Albemarle (ALB)
Interesting stuff here… https://www.albemarle.com/businesses/lithium
The grander issue is that both Lithium and Copper, are monstrously critical for EVs… a trend will that accelerate into the 2030s.