11am update - momo stocks are weak

Whilst the main market is now a touch lower, there is some noticeable weakness in the momo stocks. FB is -1.5%, whilst TWTR is -5.5%. Considering the recent gains though, these are still very minor retracements. Broader trend remains to the upside.


FB, daily

TWTR, daily

Summary

We're seeing a little weakness in the main market, but really, this is all minor noise, and any weekly close in the 1830s would still be another important weekly gain.

VIX +1% in the low 12s, a weekly close in the 11s is still viable if the market can ramp in the late afternoon.
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*notable strength: BTU, RIG

DRYS is also cooling off a little after the earlier break into the low $5s.