US equities have built significant gains, with VIX crushed to the low 16s. USD is -0.4% at 105.45, with US 10yr yield having cooled to 4.58%
sp’60min
VIX’60min
Summary
Its typical turn time, with the market pushing against resistance.
The more cautious bears will have to wait until daily momentum stalls, and that doesn’t appear likely until at least Thurs’.
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notable stock: CLF
Earnings really weren’t bad as such. Support… 200dma… soon $18.00
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notable laggard: AAPL
Apple is higher, but is distinctly lagging the main market.
News… event due May 7th. Details unknown.
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notable oil ETF: USO
Daily momentum has finally leveled out.
At the current rate, momentum will turn positive next Monday.
I wonder if a ‘weekend surprise’.
I hold… but need to exit, and throw some of my funds onto the Silver train.
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notable miner: AG
Yesterday’s hollow red reversal candle played out.
Time for a light lunch