US equity indexes open choppy, with most indexes having turned marginally red. VIX is 19/18s… but inclined to be ground lower into the Christmas break. USD is +0.5% at 107.92.
sp’60min
VIX’60min
Summary
In terms of a wave count… you could argue we’re in a minor B down, with a C’ up… to around 6K.
In theory… we will see considerable chop… if positive leaning into Tues’ 1pm. Dec’26th… is when the ‘Santa rally’ begins… although I’d be open to the market being unable to break/clear 6K. A H/S threatens 5600/5550.
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notable stock: RUM
Crypto firm ‘Tether’ is buying 103.3M at $7.50. Rumble to use $250M for ‘growth initiatives’, with a self tender of 70M common stock at $7.50. CEO might sell ‘no more than 10M of stock’
For the record, I see tether as even more of a scam/ponzi than Bitcoin.
Rumble getting ‘involved’ isn’t a good idea.
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notable stock: HMC
I’ve never highlighted Honda in all the years I’ve been writing.
Honda… looking to merge with rival Nissan.
Its a desperate sign.
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notable car: TSLA
Last Friday didn’t end so great.
I’d note momentum… which is due to turn negative.
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notable semicon: AMD
No news… just ‘bargain buyers’.