US equities are choppy, if still broadly higher. S/t momentum is still prone to turning positive, but we’re set to maintain a series of lower highs. A break <4400 remains probable. WTIC printed $100.87, as the s/t energy bears have been washed out.
sp’60min
VIX’60min
Summary
Chop chop… as Mr Market still feels vulnerable for a few more days.
VIX is offering a baby bull flag.
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notable bond proxy: TNX
Yields cooling back, but psy 3.00% is clearly coming. A fair number of the mainstream appear open to secondary of 3.25%.
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notable stock: TSLA
Bouncing with the main market. Still s/t broken. A more natural washout would be to around $900.
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notable stock: TWTR
News that Ms. Wood of ARK has sold more, isn’t helping.
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notable retail: LULU
Yesterday’s reversal candle played out. The only news I see is that its expanding its ‘resale’ program to all its stores. A minor issue. A break AND hold above the 200dma won’t be easy.
time for a much needed lunch…