US equities begin December on a strong note, with a number of indexes jumping straight to new historic highs. By default.. its already become another month for the equity bulls. VIX is set to trade under the key 20 threshold for the first time since February.
sp’60min
VIX’60min
Summary
Suffice to add… you won’t see a more bullish start to the month. All thats missing is sub 20 VIX… which is imminent.
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notable stock: TSLA
Tesla climbing on news the S&P will include it on a ‘full float’ basis.
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notable weakness: ZM
Zoom had very good earnings, but we did see a sell the news event. There will be threat of a reversal today.
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notable strength: X
US Steel climbing on recovery hopes. Any price action >17.00 would be decisive, and offer the 26s by late spring 2021.
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notable miner: GOLD
Barrick Gold is a key stock to the sector. Its battling to solidify a floor from the mid $22s… which is a very important price threshold.