Tuesday, 2 July 2019

10am update - opening chop

US equities open in minor chop mode, leaning on the weaker side. VIX remains subdued in the 14/13s. WTIC $58s. Gold $1395s.


sp'60min



VIX'60min



Summary

*subscriber note, posts will remain here, whilst my webhost remains entirely offline. Anyone in LA hear of any fires?
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So... a little chop... leaning weak... no drama. There is a fair amount of data tomorrow morning, but once that is out of the way, the market can be expected to churn into the holiday break.

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notable weakness, ROKU



Dragged lower on an RBC mixed downgrade, although holding p/t to $90. The stock was s/t bearish anyway.

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notable weakness: AMD



Yesterday's black candle is playing out.
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notable strength, AMRN



Amarin has raised guidance, and the stock is seeing a powerful jump. Things would turn wildly bullish if the double top of the 23s can be exceeded. Today's news does indeed bode for such an eventual super-breakout. 
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notable miner: GOLD



Barrick Gold, along with most of the other miners, is seeing a rebound. Cyclically though, the stock still looks s/t vulnerable. In the process of seeing a bearish macd cross... the cautious will wait at least another day.