US equities are a little choppy. USD is +0.3% at 101.95, which isn’t helping gold $1925, and silver $22.31
sp’60min
VIX’60min
Summary
There remains no downside power of any real note.
VIX is offering the equity bears nothing ahead of the weekend.
Mr Market has effectively been told by Powell ‘two more rate hikes of 25bps’ before year end. The next will be July 26th, and I’d expect the second Nov’1st.
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notable stock: TSLA
A full upside reversal, as the buyers are still willing and able.
Next natural target is green zone.
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notable banking ETF: KRE
Regional banks still struggling.
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notable bank: HMST
*A few of readers have pointed this one out to me. Its certainly being priced ‘for destruction’.
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notable ag’ ETF: WEAT
Wheat has already turned positive.
Time for lunch…