US equities remain in minor chop mode, although the Nasdaq is sig’ higher, having broken a new hist’ high. VIX is set to close around the key 20 threshold.
sp’60min
VIX’60min
Summary
S/t momentum remains fractionally positive, but there is threat of some cooling into the weekend. Regardless, with an array of new hist’ highs… its been a very bullish week.
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notable oil ETF: USO
A strong week for oil, printing the $46s, and net higher by around +7.0%. A run to psy’50 appears a given, whether before year end.. or early 2021.
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notable weakness: DIS
32k of planned job cuts isn’t helping sentiment on the outlook for 2021.
*New Mandalorian was last night, and its a battle to avoid spoilers via Twitter.
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notable strength: TSLA
Yet another new hist’ high. With most governments strapped for cash, I wonder if they will be so generous with subsidies (such as eco credits) in 2021. Around 45% of Tesla’s recent EPS was ‘free cash’ from various governments.
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notable mining ETF: GDX, 60min
Wednesday’s black candle played out… if holding the Tuesday low, and battling to settle net higher.
Back at the early close of 1pm.