US equities remain in minor chop mode. VIX is churning the 15s, reflective of a very complacent mainstream.
sp’60min
VIX’60min
Summary
S/t momentum has turned negative.
Bulls could argue we’re just seeing consolidation ahead of another higher high. Massive resistance around 4390/4400.
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notable bond yield proxy: TNX, 60min
Yields are sig’ higher. Teal gap tagged, but that does leave a new downside gap.
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notable fin: PYPL
Bearish engulfing candle.
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notable retail: M
Bearish engulfing candle.
Christmas isn’t going to be easy for old school retail.
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notable miner: NEM
Newmont has finalised the merger with Newcrest Mining
Having skipped breakfast, its time for a much needed lunch…