Tuesday 2 July 2019

11am update - the chop continues

US equities remain in minor chop mode, with the VIX reflective of pre-holiday churn. WTIC has cooled into the $57s. Gold is holding moderate gains, just under the key $1400 threshold.


sp'60min



VIX'60min


Summary

*my web host remains entirely offline, and I see its a 'Cloudflare' issue which has taken perhaps millions of sites off across the world. I'm guessing I'll just remain here for the remainder of today.

Little to add, as the market seems already content to just churn sideways. Tomorrow morning's econ-data will give an excuse for a moderate swing or two.. ahead of the 1pm close.
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notable weakness, FCX


Freeport lowered guidance yesterday (blaming copper prices), and the stock is still struggling. The stock/sector is arguably to seen as problematic until Copper >3.00.

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notable stock, F


Ford saw an especially bearish engulfing candle yesterday. Early weakness has drawn in some buyers.
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notable weakness, MU


Micron saw a black candle yesterday, and the stock is naturally lower this morning. Cyclically very high.
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notable strength: AMRN


Amarin is building powerful gains. A break >23s will make for one hell of a super-breakout.

time for a light lunch...