Friday 2 June 2023

11am update - morning chop

US equities are choppy, if having re-built significant gains. VIX remains repressed in the upper 14s. USD is +0.25% at 103.81... which isn't helping Gold, currently $1981.

sp'60min


VIX'60min

Summary

*sorry for the server issues...  have emailed my host. Maybe its a Chicom/Ruskie bot attack. Or did Los Angeles fall into the sea?

As for equities... we appear set for broad gains, which itself will setup at least somewhat higher next Mon/Tuesday.

Yours truly is content to sit it out until next week. A re-short from around 4300 would be extremely comfortable, not least after recently closing out from 4123.

notable stock: LULU


Earnings were impressively good.
Those selling across the past few weeks will not be in the best of moods.
The current candle is a very spiky black reversal, as we've sellers into the jump.

notable banking ETF: KRE


For another day... everything is fine again with the regional banks.
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notable steel: CLF


For no particularly good reason, the industrials are powering upward.
I'd keep in mind the recessionary PMI/ISM manu' data recently.
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notable miner: FCX

Higher with the main market, and with copper printing $3.78
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Until otherwise noted, I'll be here for the rest of today.
Bullish Google servers... I guess. 

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11.05am... SERVER back... will resume > https://www.subscriber.tradingsunset.com as of 12pm