3pm update - increasingly choppy

US equity indexes are set for net daily gains, but price action sure is choppy... and there remains threat of a retrace to the sp'1950s.. before the next attempt to break back above the psy' level of 2000. There is renewed weakness in Oil, -1.8% in the $47s.. having hit $49.71.


sp'60min

USO'daily2

Summary

*Oil is a curious one, as if it can break >$50... there is a clear 5/7$ higher.. within the very near term, and that would be the perfect excuse for sp'2040/60 zone.
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On balance, we look set for net daily gains... with VIX set to close lower for the 7th day.. in the 18s.

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notable weakness: FB, -1.2%.. along with most other momo stocks.
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3.33pm.. It remains notable that with the sp +0.5% or so... AAPL/DIS are both lower by around -0.5%

There sure is weakness out there.. despite the broader gains.