US equities are set for very significant net daily declines. VIX is set for a close in the 22/21s. USD has seen a rather significant upside reversal, +0.6% at 106.52
sp’60min
VIX’60min
Summary
We’re s/t cyclically low, and prone to a bounce. However, more than anything, I’d be especially focused on Wednesday… and how the month settles. It does appear that most (the exception is the Dow) are set to maintain a bearish monthly trend.
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notable stock: AAPL
Set for very sig’ declines, as there are indeed rather big problems within communist China.
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notable weakness: INTC
The sixth day lower of eight. I’d note the recent high marked by a black candle. M/t bearish 21/20.
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notable retail: M
Bearish engulfing candle.
Legacy retail… especially at risk, with the ever more broken consumer.
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notable stock: TSLA
Its almost a wonder Tesla is not -3%. I’d consider today’s resilience as ‘spurious’. M/t bearish as psy’ $100 looks realistic within Q1.
back at the close…