US equities are powerfully lower, with the SPX printing a new multi-year low of 4001. Yes, there are buyers around psy’ 4K, but more broadly… the 3500s appear on the menu.
sp’60min
VIX’60min
Summary
The intraday bounces are STILL being sold into. If 4K fails… then the low 3800s within 1-3 days. From there… psy’4K will become new resistance!
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notable Dow component: MSFT
Today’s loss of the $270s is a massive signal, reflective of the m/t broken main market. Next stop… psy’ $200.
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notable stock: AMC
AMC has earnings in AH, but most are understandably more focused on the main market. The problem into/across the summer will be the cash-strapped consumer.
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notable horror: DKNG
Draftkings reflective of many mid/low tier names. Outright crashy-horror, with ZERO sign of a floor.
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notable miner: LAC
Reflective of the commodity stocks. 13/12s with SPX 3500s.
back at the close…