US equities are very choppy, with the SPX turning fractionally positive, but taking a moderate swing lower. S/t momentum is on the very low side, as the setup into the weekend favours the bulls.
sp’60min
VIX’60min
Summary
Chop chop.. as battle continues. The daily cycles favour the bears… but the market is now s/t cyclically oversold… and with OPEX tomorrow, the bears face multiple problems.
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notable stock: NFLX
I see no news. Netflix catching some distinct buying interest.
Pete just highlighted UOA in this… but its VERY s/t.
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notable weakness: HOOD
Robinhood duly whacked on a lousy outlook.
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notable energy: XOM
A key energy giant to be mindful of… as the 200dma is near.
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notable Dow component: CSCO
Earnings: (Wed’ AH): EPS 84cents vs 83est. Rev’ y/y +8.0% to $13.1bn vs 13.0est. Positive guidance. Bullish engulfing candle to new multi-decade high.