sp'60min
VIX'60min
Summary
Opening gains, but frankly, I don't much trust them, and we early signs of a reversal. We have a long day ahead... as Trump has landed just a few miles due south of yours truly.
--
notable stock: MU
Underlying strength in Micron. Clearly, if the main market swings lower later today, Micron will at least be pinned back somewhat. Once declining trend/resistance is cleared - currently around $57.70s, its arguably an open road to 70/75 zone by late summer. I still think a sporadic takeover is a high threat, although it won't come cheap. Any bidder is going to need to spend close to $100bn.
--
notable implosion, AVGO
Mr Market will usually knock the bidder for a stock lower, the current reaction is wildly stupid. I don't follow the sought company of CA.
--
notable strength, TWTR
There are buyers on every little cooling wave. Earnings are due July 27th, and it'd not be surprising to see this around psy'50 at that time. Secondary target 53s, which isn't bold, considering the m/t trend.
--
notable financial: BAC
Bank of America opens moderately higher, but it looks vulnerable with the main market. Yours truly is looking to pick up BAC ahead of Monday earnings, but I don't like the current s/t setup. There seems no hurry.