US equities are choppy, but it appears we do have a reversal day that should hold into the close. WTIC has printed $82.96, which isn’t going to help May’s CPI print, or the Transports… especially the airlines.
sp’60min
VIX’60min
Summary
I’d note we have a marginal s/t double top of 4133/34.
Even a mere 2.5% cooling wave would get us down to the 4030s.
Again… I’ll drone on about it into the close… look to the VIX.
Equity bears should be seeking VIX >20, and SPX below the daily 10MA (<4090 to be decisive).
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notable stock: AAPL
Support 157/156s, as looks probable before the weekend.
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notable reversal: DIS
Today’s candle is bearish engulfing, and leans especially s/t bearish.
This is the way…. down.
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notable stock: AMZN
Another one of the giants, where momentum has turned negative.
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notable trans: UAL
Dragged lower by the lousy outlook from sister American Airlines.