US equities remain choppy, if still broadly lower. VIX remains repressed in the 13s… and on balance, a weekly settlement in the 12s looks probable. Copper has cooled to $3.78
sp’60min
VIX’60min
Summary
A marginally interesting morning… but clearly nothing of significance.
The one hope for the bears is that daily momentum is in the process of turning negative (at least for the SPX), and that does bode for a lower low early next week.
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notable stock: AMZN
A tag of legacy green gap, holding up somewhat to the main market.
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notable weakness: NVDA
Nvidia cooling into the weekend. Momentum has turned negative.
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notable fin: PYPL
Mostly just lower with the main market. Truist ‘buy’, 90>80.
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notable media: WBD
The Synder fans remain contemptful of Safran and Gunn.
Earnings due Aug’3rd.
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Its cheerleader time, although I can think of better things to do…