US equities open on a positive note, largely helped by other world markets. SPX is nearing green zone… whilst VIX is set for the 21/20s. USD is -0.7% at 108.99.
sp’60min
VIX’60min
Summary
We’re s/t cyclically over-stretched… as some cooling… if choppy, could be expected. Daily momentum is ticking upward… but its difficult to see anything >4100.
The cautious will NOT be taking any shorts ahead of the weekend, not least with options decay. I’m content to wait.
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notable stock: AMD
Note the 50dma in the $88s
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notable health: PFE
Momentum has turned positive. S/t bullish. Teal gap $48s.
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notable strength: OXY
Higher with the main market, and with WTIC $85s
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notable miner: FCX
Higher with the main market, and with copper printing $3.62. Momentum due to turn positive.