US equities open choppy, if leaning on the weaker side. The s/t cyclical setup leans to a bounce.. if not until >11am. USD is +0.5% at 110.86, with GBPUSD 1.1292, and EURUSD 0.9992
sp’60min
VIX’60min
Summary
Early weakness… as the market is drawn toward 3700.
Special note… sp’daily5c
There is much support around 3700. A sig’ bounce could be expected.
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Yours truly is increasingly frustrated.
The s/t setup does NOT support any short side trades… until after a bounce.
Further… whilst I’m pretty damn confident about sp’340o or lower… if I buy Oct’ strike… what if the market churns for a week or two? So… I wait.
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notable stock: TSLA
Major resistance around psy’300… which should be settled under this month.
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notable weakness: AMD
As ever… a sector leader, to the up AND downside. M/t bearish 50/48.
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notable energy: OXY
Helped with oil bouncing to the $86s.
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notable miner: FCX
Helped with copper printing $3.52.