US equities remain in minor chop mode… with the VIX churning the 22s. If the VIX can be ground under the key 20 threshold for this Friday’s OPEX, it will bode for further equity hist’ highs before end month. I would keep in mind next week is a 3.5 day trading week.
sp’60min
VIX’60min
Summary
… the chop continues. Whilst the bulls could argue its just sideways consolidation ahead of another wave, tomorrow is a Thursday, and would be prime for the bears, ahead of renewed chop this Friday-OPEX.
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notable stock: NVDA
Nvidia is seeing considerable churn… ahead of earnings due in AH. Great company. As noted last evening, the past three monthly candles are problematic. The cautious will leave alone… but to be clear… I’d not be short what is one of the best tech-hardware companies in the world.
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notable weakness: ZM
Zoom is struggling, with a number of the other stay at home stocks.
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notable strength: CRSR
A new hist’ high for Corsair. Recent earnings were good, and the outlook is very promising. Short/mid/long term bullish, and this is a valid takeover target from someone like NVDA or AMD.
Yours… time to open another box, and for the cheerleaders…