US equities remain a little choppy, with most indexes leaning net lower. VIX is clawing back toward the key 30 threshold. The USD is back to flat, which isn’t helping.
sp’60min
VIX’60min
Summary
This morning is a great example of failing at resistance, with a black SPX candle, and a mirror hollow red reversal in the VIX. The cyclical potential is there for increasing equity downside into the afternoon, as Mr Market waits for the next stimulus headline from Pelosi/Mnuchin.
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notable bond ETF: TLT
Yields fractionally weak. Note the key June low of the $152s.
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notable financial: BAC
JPM broke above the 200dma yesterday, with BAC trying to follow.
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notable strength: AMD
A case of s/t speculative buyers, ahead of earnings, due next Tuesday in AH. Options market is expecting a +/- move of 9%.
time for lunch…