US equities open on a positive note, as 3969 appears set to hold into the weekend. VIX 19/18s… prone to being ground lower.
sp’60min
VIX’60min
Summary
S/t momentum should turn positive by 11am. The bulls could realistically hope for a weekly settlement around 4050, which would offer a brief foray >4078… even the 4100s next CPI-Tuesday. I am looking to short any such bounce.
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notable Dow component: AAPL
Bouncing with the main market… as momentum has turned positive.
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notable stock: TSLA
Tesla battling to find a floor. Cyclically low.
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notable financial ETF: KRE
S/t oversold, but no sign of a floor/turn. Broadly… the financials are struggling, on the valid concern of sustained/higher rates.
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notable energy: OXY
Helped by the positive main market, and oil reversing upward to the $77s.
Background sentiment is pretty good, clearly helped via ongoing purchases from Berkshire/Buffett.