US equities are very choppy, battling to settle net positive. VIX has cooled from the 31s to 28s… as many are rightly expecting a multi-day bounce. Natural target are the sp’4380/90s. WTIC has bounced 95>98s. USD is +0.5% at 101.74… overlooked by many.
sp’60min
VIX’60min
Summary
I’d still be open to another wave lower to 4188/73… but the risks/reward for those buying here are pretty good.
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notable dow component: MSFT
Buyers ahead of earnings Tues’ AH. I’d lean to a bounce (with the main market)… but broadly… $270 to fail.
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notable Dow component: DIS
One of those stocks that have been distinctly strong today. S/t bullish… with Moon Knight!
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notable stock: CLF
Rough day… now the issue is how high a bounce. Psy’ $30 looks realistic. Anything >32/33s looks a stretch.
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notable energy: OXY
We have a very spiky reversal candle from around the 50dma. S/t bullish… even if Tuesday is partly weak.
back at the close…