US equities open a little choppy, leaning on the positive side, as the market is s/t oversold. USD is leaning weak… -0.2% in the DXY 93.30s, which is helping gold/silver.
sp’60min
VIX’60min
Summary
Yesterday’s price action was just weak chop. There was no downside power of any significance. VIX has cooled to the 25s…. the lower end of its range. I do NOT expect anything <24s… ahead of the election.
–
notable stock: BAC
Earnings were hit pretty hard via a massive drop in net interest income. Blame the Fed!
–
notable weakness: WFC
Earnings were problematic… and again, largely due to a -19% drop in net interest income. You know who to blame… right?
—
notable strength: GS
Goldman managing to do fine, via trading and underwriting.
—
notable mining ETF: GDX, 60min
Miners catching a bounce with higher gold/silver. Broadly… its all bullish consolidation/chop.