12pm update - the chop continues

US equity indexes remain a little choppy, still leaning on the positive side, as earnings are coming in broadly superb. VIX is similarly choppy, but yesterday's low of 14.57 looks intact for a few days. Oil is helping prop up the market, currently +2% in the low $68s... as psy'70 is indeed very close.

sp'60min

VIX'60min

Summary

Little to add, as the chop continues. Cyclically, we're s/t over-stretched, and due some cooling to the lower hourly bollinger, currently at 2651, but rising each hour.

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notable weakness, AMAT, daily

As LRCX has tainted most of the sector this morning, but Micron is now sig' higher....

MU, daily

Roughly.. a 6% swing, washing out the weaker bulls. Big target remains 70/75, unless a takeover arrives first!

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notable strength, X, daily

The bear flag is indeed fully negated. Earnings are due next Thurs' in AH, and should come in good, with a very positive outlook. FPE 7s... cheap.
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time to check on the cheerleaders...