US equities begin the last day of 2021 in minor chop mode. VIX is subdued in the 17s… whilst a spike to the key 20 threshold appears probable. Copper printed $4.45, helped by a fractionally cooler dollar.
sp’60min
VIX’60min
Summary
So… opening chop, with brief gains fading. In theory… we should at least cool to the 4730s… if not around 4700. The latter looks out of range today.
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notable stock: AMD
AMD catching a bounce. CEO Su will be at CES 2022 next Tuesday morning. A new line of CPU and GPUs will garner considerable attention.
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notable strength: F
Ford is annoying higher. Annoying… as I’d like to buy this back in the $19s. There is still ‘moderate hope’ for that. Soft upside target are the 1999 historic $23s.
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notable steel: X
US Steel catching a bounce. It remains a short/mid term mess. Bulls need >$25s. I hold
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notable miner: FCX
Freeport seeing weak leaning chop. If sp’4720 or lower, this should be under psy’ $40… where I’d be a willing buyer.
Time to venture outside… if briefly…