US equities are choppy, if leaning a little higher.
sp’60min
VIX’60min
Summary
Bears are powerless.
The only hope is CPI on Wed’.
Still net bullish into Sept’
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notable stock: AAPL
Jefferies, underperform, 285.56 > 263.66
The concern is the ‘all glass’ iPhone concept is dead.
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notable weakness: NVDA
Partly cyclical. Partly being dragged down by Intel
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notable miner: B
Earnings were very good…
EPS 82cents vs 78est. Rev’ y/y +43.8% to $5.29bn vs 4.53est. AISC (production cost) $1866 oz, whilst having an average gold oz sale price of $4417
The stock is lower on news that Barrick is paying Newmont $1.95bn to settle a gold mine dispute in Nevada
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notable energy: MPC
The sector leader powering upward.
Last Friday’s hollow red reversal candle played out.
Multi-week structure is a bull flag