US equities are building moderate gains, with the SPX pushing for the 3700s. VIX is holding above the opening reversal low, as the market will be increasingly vulnerable into/across the afternoon.
sp’60min
VIX’60min
Summary
Well, 11am is first turn time, with secondary of around 2.30pm. We should see at least one moderate cooling wave before the close. The daily equity/VIX cycles are certainly supportive of that view.
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notable bond ETF: TLT
Yields are higher for the 4th day of 5. Note the key June $152s.
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notable financial: WFC
Even the gross sector laggard and immoral garbage that is Wells Fargo, is following the sector upward, set to challenge the June $33s.
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notable strength: SLB
Schlumberger powering upward with the sector. Soft target are the June $23s, and then 28/29s.
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notable tech: CRSR
Corsair remains in broad cooling mode from the recent $51s. Support 29/26s.
Time for lunch…