US equities open on a weak note, but there is a reversal underway. VIX printed (cash market) 22.97, but has already cooled back to 21.59. USD is +0.3% at 93.40.
sp’60min
VIX’60min
Summary
*legacy orange gap FULLY filled… with 4367 acting as a reversal spike floor.
Bulls should be seeking a weekly close >4424, to avoid a bearish engulfing candle… along with holding above some key supports.
We’re cyclically low, and should see a clear turn by late morning.
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notable stock: NVDA
Nvidia seeing some weak leaning chop.
EPS $1.04 vs 1.02est. Rev’ y/y +68.3% to $6.5bn vs 6.3est. Positive guidance. Various upgrades… Rosenblatt 250>300.
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notable energy: OXY
Occidental hit by the main market and WTIC $62s.
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notable stock: X
I’d keep in mind yesterday’s very bullish target of $49 from Credit Suisse.
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notable miner: FCX
Freeport whacked with the main market, and copper printing $3.96.