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Afternoon Note

Compelling Action

By Charles Payne, CEO & Principal Analyst
6/2/2021 1:20 PM

All eyes are on AMC, but there is other compelling action going on including a strong breakout in the oil patch.

I think this move lifts WTI to $73.00, which is the next major resistance area.

WTI

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Technology acts better, especially semiconductor names, and there is a cautionary feel with solid gains and flow into Utilities, Consume Staples, and Real Estate.  The market is mostly waiting on the jobs report and that could mean trading in a narrow range until Friday morning.

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