US equities are significantly lower. Ongoing price action isn’t pretty, but neither is it anything that merits bearish hysteria. VIX is notably flat lining. WTIC $109s. Gold $2000. Silver $26.20 (notably holding above the key $25.50 threshold).
sp’60min
VIX’60min
Summary
So, we’ve tagged orange gap.
Best guess… we hold above trend, and battle back upward into the FOMC.
I’d look for a sporadic ‘good news’ story that pleases the market.
To be clear, the cautious will NOT be long the main market, as its clearly m/t broken.
–
notable Dow component: AAPL
Reflective of the main market… nearing the 200dma, whilst the main market has long since lost it.
–
notable weakness: FB
The m/t horror continues for the Zuck. Major support 130/120.
—
notable health: MRNA
I have to see psy’100 at some point, and that is without ANY scandal about its gene therapy treatments.
—
notable energy: XOM
Energy stocks are battling upward. The bold could seek giant psy’ $100 by June/July.
Time to catch a sunset…