US equities are set for further micro chop into the close. USD is +0.3% at 100.99, which has pressured gold to $2075.
sp’60min
VIX’60min
Summary
Regardless of the exact close, with a new cycle high, its to be seen as a net bullish day.
*On consideration, yours truly has got involved in Gold, via GLD CALLS. The micro cycles are all on the low side. If the position is somewhat profitable early Friday, I’d look to exit, and re-long next Tuesday.
—
notable stock: CAT
Much like Boeing, its had one hell of a run up, but its getting tired.
Whilst I don’t see it as a valid short this side of New Years, the more cautious bulls will be such.
–
notable semicon: AMD
A new high for the year… for what is s/t hysteria. Great company/products, but the valuation FPE 39s is getting real over-stretched.
–
notable car: TSLA
Early gains… but set for sig’ declines, as the s/t bulls getting washed out. Bearish engulfing candle.
–
notable miner: GOLD
Just lower with gold/silver. I have to see all cooling waves as such, based on the notion of gold 2400/2500 by the spring.
back at the close…