US equities are seeing a cooling wave, as s/t momentum has notably stalled just under the key zero threshold, and it bodes bearish for this afternoon, and into Wednesday. VIX is battling to turn positive.
sp’60min
VIX’60min
Summary
The problem for the bulls… daily equity and VIX momentum is still increasingly favouring the equity bears. Whilst you can argue ‘its all chop’… today’s price action is uglier than it might seem.
S/t structure is a viable H/S.. note the added blue neckline.
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notable stock: AAPL
A little cooling from earlier highs. The option CALL activity is insane.
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notable reversal: CRSR
A major reversal… leading the main market lower.
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notable shipper: CCL
Shippers also seeing a reversal lower.
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notable mining ETF: GDX
Miners struggling with gold/silver
Time to check on the cheerleaders… mute button on standby…