US equities open on a positive note, but the gains are distinctly shaky. Whilst s/t momentum is trying to turn positive, its a Thursday, which inherently favours the bears. VIX is churning the 23/22s… prone to a mini spike to the 25/26s. WTIC printed $75.44, if cooling to the $73s.
sp’60min
VIX’60min
Summary
It’d be useful to see a daily black candle… or outright red.
Regardless…. daily momentum IS increasingly negative, as yellow gap remains target.
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notable stock: META
Just bouncing with the main market. Daily momentum prone to turning negative, for what remains m/t horror.
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notable weakness: TSLA
Ongoing concerns about staffing at the Shanghai plant.
Momentum due to turn negative.
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notable strength: OXY
Occidental powering upward… with WTIC $75s.
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notable Dow component: CRM
A new multi-year low, not helped by a downgrade from Baird.
The stock looks set to get kicked out of the Dow next year.
time to catch a sunset…