US equities have slipped into minor chop mode, which could be expected to continue across the week. Gold has cooled from $2348 to $2328, pressured by the US 10yr 4.479%.
sp’60min
VIX’60min
Summary
Chop chop… get used to it, but then its been that way for weeks… if occasionally breaking marginal new hist’ highs.
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notable stock: TSLA
Tesla appears set for a decisive close above the 200dma.
Natural target 250/260 by mid August.
The cautious will NOT be buying any CALLS until next Monday… due to holiday/decay issues.
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notable weakness: AMD
An especially laggy semicon… that needs to hold its 200dma.
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notable strength: BA
Some buyers appearing, but its all m/t chop.
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notable stock: CHWY
Those chasing pre-market +18%… are already -20% or so.
Momentum due to turn negative.