US equities remain a little choppy, still net lower. WTIC has printed $71.34.
sp’60min
VIX’60min
Summary
The style of price action is clear… a little cooling, ahead of another wave upward. The 4160s look due tomorrow, the only issue is whether we go a little higher than that. Ideally… we’ll get stuck 4160/70s. I do NOT want to see any daily closes >4190.
–
notable stock: TSLA
Background earnings related chatter on LCID, RIVN, and NKLA isn’t helping.
–
notable reversal: WDC
Early gains… but a full reversal.
Great products… but the weak consumer has to be seen as a problem.
—
notable retail: UAA
Another retail-related stock that merits as an alarm bell for the broader consumer based western economy.
—
notable semicon: NVDA
Broadly… this remains one of the most ludicrously valued stocks, with an FPE of 45/50.
yours… graphically processed by Nvidia since 2001 (a 3DFX voodoo card!)