US equities have reverted to minor chop mode. WTIC has printed the $73s, after threats to the oil/energy bears, from the house of Saud. The US 10yr is churning 3.73%.
sp’60min
VIX’60min
Summary
Urghh… Tuesday is starting to get tedious, as we’re holding above support of 4070/60.
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notable stock: LOW
Lowes has seen a pretty strong upside reversal, with momentum turning positive. The problem shall remain the consumer.
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notable banking ETF: KRE
Regional banks powering upward, lead by PacWest, as it claims its going to sell $2.6bn of its loan portfolio. Who wants to buy that garbage?
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notable bank: BAC
Seemingly higher on hopes of another rate hike… if not June 14th, then at the FOMC of July 26th. > https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
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notable miner: FCX
Freeport lower with copper printing $3.62, set for a May close far below psy’ $4.00.
time for lunch…