US equities are moderately weak… clearly nothing that merits bearish hysteria. The bigger daily cycles are swinging back toward the bears though, as Wed’/Thursday offers something far more dynamic.
sp’60min
VIX’60min
Summary
Bears could argue we’re just building a multi-hour bear flag.
Things turn interesting <3965.
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notable energy: SLB
Reflective of the sector. Orange gap looks realistic this week.
To be clear, I still see oil and the related energy stocks as the last thing to be short… and I’m sticking to just the indexes (namely SPY).
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notable energy: CHPT
The main market sure isn’t helping. A m/t chop fest. I like the company, but I can’t be buying back. Earnings Thurs’ AH.
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notable strength: TSLA
There are some very bold buyers out there… but broadly this IS m/t horror from the $414s. A H/S offers a crazy target of 34/33s.
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notable fin: PYPL
Its arguably on hopes of cyber Monday transactions. The gains are pretty shaky though.
As night falls… its time for a much needed lunch