US equities are battling to end the day on a positive note, as the bears simply don’t have any downside power. Teal gap remains set to be fully filled, if not a brief foray >4K to wash out another tranche of shorts-stops.
sp’60min
VIX’60min
Summary
Chop chop… chop. Lower hourly bollinger is up to the 3840s.
Daily momentum is increasingly positive, which will be a problem to the bears for at least a few more days.
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notable stock: TSLA
S/t bullish.
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notable Dow component: BA
Even if it settles net lower, we’ve a reversal candle. S/t bullish.
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notable strength: AMZN
A third positive day… the $96s now seem due with sp’4K.
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notable steel: CLF
Early weakness, but pressing against the 200dma and key price threshold. S/t bullish, but the smarter ones will be selling into such strength.
back at the close…