US equities are leaning weak, as s/t momentum continues to weaken. VIX remains negative in the 22s… reflective of a very comfortable mainstream.
sp’60min
VIX’60min
Summary
Yellow gap is a threat tomorrow… as Thursday tends to be prime for the bears. Even if we see that, from there… renewed chop into Friday-OPEX.
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notable stock: NVDA
Nvidia has earnings in AH, which should be at least reasonable, with a positive outlook. Whilst AMD has rolled out its new GPU line, Nvidia is still the king of graphics. The only technical concern is that the past three monthly candles are distinctly spiky, and indicative of m/t bullish exhaustion. The bulls need to see new hist’ highs printed soon, or it will bode for cooling… regardless of the main market into early 2021.
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notable strength: CRSR
A very strong day for Corsair, as the newly listed stock continues to gain mainstream attention.
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notable retail: TGT
New historic highs, and justly so, after superb earnings. This one should replace WBA in the Dow.
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notable strength: TSLA
Yesterday’s black candle surprisingly failed to play out, with the s/t speculative chasers piling in, on further chatter of its Dec’21st addition to the SPX.
back at the close…