US equities remain in minor chop mode. Gold $2334. Silver $29.95, having printed $30.13. WTIC has cooled to the mid $83s.
sp’60min
VIX’60min
Summary
Little to add… for what is holiday chop.
–
notable stock: TSLA
Very powerful gains for Tesla… largely on the delivery data, although lets be clear… y/y deliveries were -5%. Not great. Resistance 250/260, then 280.
–
notable weakness: LLY
Biden has called for lower prices for weight loss drugs.
—
notable strength: SMCI
Whilst Nvidia is -2%, there are some select buyers out there.
—
notable stock: NKE
Underlying weakness. I’d be mindful it will be inclined for some weeks of chop, or even a bounce to 80/85, before resuming to grander target/support $62s.