Tuesday, 21 June 2022

12pm update - cheerleader time

US equities remain rather powerfully higher. Price action is increasingly tired though. WTIC has cooled, $111>109

sp'60min


VIX'60min


Summary

Little to add, as we're clearly set for net daily gains of some degree. Wed' offers a higher high,

notable Dow component: MSFT

The fourth day gain of five.... but it does nothing to dent the m/t bearish trend.
You don't think $241 is a key low, right?

notable weakness: NFLX


Stifel maintain 'hold', 300>230.  Next major support is not until $124s.
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notable energy: CHPT

Higher with the sector/main market. Still m/t broken, and even the bold will be waiting for sp'3500/400s.
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notable miner: LAC


Reflective of commodity stocks. The problem shall remain... the main market into July. 

Its cheerleader/lunch time, but there is no point in food/drink, if my time is about up.