US equities are battling to tag teal gap. Green gap looks a stretch… even if Powell pleases the algos.
sp’60min
VIX’60min
Summary
Early gains were shaky, but we’ve seen a secondary upward push. Its impressive, especially for a Thursday, and with s/t momentum already on the high side.
If the market is initially higher on Friday, it’ll be a tempting time/price to launch a short side trade.
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notable stock: AMD
Just a bounce. Bulls can argue multi-week price structure is a bull flag, offering a push to the 200dma. M/t bearish 50/48
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notable stock: F
Just a bounce. I see structure of a H/S. M/t bearish $6s
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notable shipper: CCL
Even this one can’t sink every single day.
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notable steel: CLF
Cleveland higher with the main market. Unless you believe the main market will climb into the fall, even the bold will leave alone.
Time for lunch…