US equities remain in minor chop mode, with a subtle reversal from a new cycle high of sp’4182. VIX remains very subdued in the 15s. USD is +0.5% at 101.92.
sp’60min
VIX’60min
Summary
Its a reversal, but I’d not consider it that important.
Its really a case of waiting to see how we stand as of Wed’ 2.05pm.
Clearly a foray into the low 4200s… is realistic, before a major reversal.
–
notable stock: INTC
A great example, as last Friday’s black candle played out.
Earnings were NOT good!
–
notable weakness: XOM
Energy stocks struggling with oil printing the $74s.
Orange gap to be fully filled, not least if the main market reverses lower this Wednesday.
—
notable health: PFE
Despite considerable background chatter about ‘Pfizer knew’, its leaning upward… if still m/t bearish.
—
notable miner: LAC
No news. The entire company is itself a ‘work in progress’ as the Thacker Pass mine continues to be built. Better than ALB… or anyone else with mines in a communist nation! I resolutely wait to buy back once the main market has been cut in half.