US equities are choppy, if set for net daily gains of some degree. The s/t cyclical setup ahead of CPI-Wednesday is ‘mixed’. Even the bold will arguably just sit back and watch.
sp’60min
VIX’60min
Summary
Little to add.
—
notable stock: MMM
BofA, under-perform>neutral, $110.
Citi ‘neutral’, 110>100.
Neither are particularly great, but Mr Market believes they are.
–
notable energy: RIG
A new multi-year high.
Transocean still isn’t profitable, and even the bold will arguably favour OXY, SLB, DVN, KMI.
–
notable Dow component: DIS
The background chatter sure isn’t pretty, with some even noting the parks appear deserted at times. I’d more concerned with the TV and movies, which are cash eating monsters.
–
notable trans: UBER
I see news the CFO is leaving, but the buyers did pour in. Today’s candle is set to be bullish engulfing, and leans distinctly s/t bullish.
Time to venture out, before I change my mind.
Back at the close…