US equities open in minor chop mode, if still leaning upward, with the SPX and Nasdaq comp’ breaking new hist’ highs. WTIC $81.10. Gold $2387. Silver $31.26. Copper $4.61.
sp’60min
VIX’60min
Summary
*Powell is due, and Mr Market will be listening, as an increasing number are starting to hope for a Sept’ rate cut. It would be the case, that historically… a rate cut would be the ultimate equity sell signal.
S/t momentum is ticking back upward, as the setup favours the bulls into CPI-Thursday.
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notable stock: TSLA
Tesla… has just turned red. RSI 86s.
Goldman, 175>248, HSBC, 120>130… both rather laughable.
Morgan Stanley… $310
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notable semicon: NVDA
Helped by data from TSM.
Daily momentum due to turn positive.
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notable Dow component: MMM
CFO quits. Wells Fargo, 100>110, Barclays, 118>120
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notable miner: NEM
Newmont leading the sector upward.
CIBC, 46>61… and I can agree with that.