US equities are rather powerfully higher. VIX is net lower.... if only to around the key 30 threshold. Copper prints $4.08, but it doesn't negate last Friday's break of support.
sp'60min
VIX'60min
Summary
Purple gap almost filled. S/t momentum is on the very high side. A rollover is due this afternoon or early Wednesday.
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notable stock: TSLA
Tesla powering upward. 620/626 make s/t floors... but the stock is to be seen as m/t broken unless back above monthly 10MA (currently $931s). Target remains 550/500 within July.
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notable semicon: AMD
AMD is usually one to draw in the hot money. S/t bullish, if only another day or two. M/t broken, as $70 looks realistic within July. Even the bold will lean to Aug' PUTS... or the buyers will wait until sp'3500/400s.
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notable energy: OXY
Occidental Petroleum powering upward with the sector, helped with WTIC printing $111.16.
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notable bond ETF: TLT
Bonds whacked lower... as yields climb.
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notable fin: BAC
Bank of America bouncing with the sector/main market.Whilst higher yields/rates are a positive (they should be able to improve margins), consumer debt defaults and an economy in recession aren't going to help.
