US equity indexes mostly open on a weak note (Nasdaq remains resilient). Price action is subdued, as the market remains broadly very strong. VIX has popped to the 22s. USD is -0.3%, printing a new cycle low of DXY 91.52, as the crazy 88s are set to be tested in Dec’ or Jan’.
sp’60min
VIX’60min
Summary
A little cooling… carrying across from last Friday. I can’t see anything <3600 this week. The only wild card remains the election, and the market really doesn’t seem to care.
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notable stock: AMD
Any daily close >88 would be decisive, and offer a run to giant psy’100, as early as before year end.
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notable stock: CRSR
Corsair raises guidance. Opening gains have reversed though… dragged lower by the main market.
Yours truly is awaiting another Amazon box, an Elgato streaming card (Elgato is part of Corsair).
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notable strength: ZM
Zoom Video has earnings in AH, which should show further improvement, with a positive outlook. Daily momentum is building.
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notable mining ETF: GDX, 60min
Attempted opening reversal, but still an ugly month, pressured by gold/silver… and that is despite a weaker dollar.