Please enable javascript in your browser to view this site!

Yields pressing higher should aid Financials into FOMC- Base metals improving- COPPER breakout worth watching

Wed am Technical Video



Key message is that the US Dollar showing increasing signs of stalling out and turning down.. while Yields are pressing up a bit more sharply in US and Germany.  So this could be a positive for Financials into next week

The base metals have also responded well and Materials should be favored for outperformance, along with Retail in the short run.   One should look to take profits in Semiconductor names and favor Software or Hardware within Tech.. as this Semi bounce looks nearly complete. 

Positive gainers for today Premkt:  AXON, VBLT, MEIP, NCS, SIG, MRNS, FATE, OTIV, DVN, TSLA, PLUG, CLF, LITE, SNAP, X, LB-  Decliners:  AMBA, CODX, IMGN, OLLI, VIAV, YELP, FSLR, YY, HMY, TKC

image003 (1).jpg



S&P has continued to press higher and structurally more bullish than a week ago. Yet momentum has diverged a bit, so important to watch if this were to turn down and break the trend from 5/29 lows higher which is near 2737-  Given that stocks have largely followed Yields.   2756, then 2762 important




image005 (2).jpg


10yr Treasury yields have recaptured trends which were violated.  This bodes well for some stabilization In the Financials as rates look to be able to continue to climb in the short run into next week

Yields have exceeded the highs of the last couple days which is a positive for yields.  And we’ll see if Financials can try to turn back higher as this has been sorely lacking of late


image007 (1).jpg




Copper pushing higher now for the fourth straight day, in very dramatic fashion..  exceeding the trend from early this year

Watch FCX as we saw a big number of Calls and Call Stupids trade yesterday and this might benefit