US equities begin the half session on a positive note. S/t momentum is still vulnerable to turning negative… but overall price action should remain pretty subdued. Gold printed a new cycle low of the $1776s, with Silver $22.40.
sp’60min
VIX’60min
Summary
Little to add.
VIX has flash printed 19.51 in pre-market. Now its merely a case of when we will see a daily close <20.
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notable stock: AMD
AMD saw considerable CALL activity on Wednesday, as the stock is close to a major breakout. Any daily close >88.00 would be decisive, and offer a run to giant psy’100, which is realistic before year end.
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notable rebound: CRSR
Corsair rebounding after a sporadic bout of severe cooling.
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notable miner: FCX
With copper printing $3.41, Freeport continues to push upward. Next m/t resistance are the $34s. Indeed, we have an increasingly stark divergence between the copper and gold/silver miners.
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notable mining ETF: GDX, daily
Pre-market gains were eroded, after gold/silver were whacked lower, despite a fractionally weak dollar. Wednesday’s black candle has played out. Vain attempt at an opening reversal.