US equities open in minor chop mode, mostly leaning on the upward side, with the SPX breaking a new hist’ high. VIX is churning the mid/low 20s, as a break under the key 20 threshold is clearly within range. Gold and Silver are struggling, despite a weaker dollar, -0.2%, printing DXY 90.60.
sp’60min
VIX’60min
Summary
*Doordash has priced 33M at $102. I will cover that one on Twitter across the day, and it will make for some sideline entertainment.
As for equities… expect considerable chop. Tomorrow is a Thursday, which will offer a far better chance of some cooling.
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notable Dow component: DIS
Disney breaks a new historic high.
Yours truly gave this some extra attention on Monday.
see: https://www.subscriber.tradingsunset.com/2020/12/07/looking-ahead-48/
… and its somewhat amusing to see a couple of mainstream upgrades: Keybanc 177s, Morgan Stanley 160>175. I guess you could say… ‘they have spoken’.
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notable weakness: ZM
JPM mixed downgrade, as its arguing a number of stocks are getting overly pricey, although JPM still raise Zoom p/t 425>450.
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notable strength: AAPL
Apple is leaning upward, helped by Wedbush 150>160,
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notable miner: NEM
Yesterday’s black candle played out. Miners hit by lower gold/silver.