US equities appear set for net gains of some degree. VIX is churning the 14s, although much of today’s gain is technical (older options rolled off, replaced with new… higher priced ones). The s/t cyclical setup is mixed. The VIX is more suggestive that equities will open Tuesday higher… if only marginally.
sp’60min
VIX’60min
Summary
On consideration, I do NOT like the hourly VIX momentum setup… which argues against shorting equities. I will duly wait, and hope Tuesday opens marginally positive with VIX knocked a little lower. I’d be pretty comfortable to short it, and hold into Wednesday’s Fed.
*I’m trying to be objective as I can… based on the very latest style of price action.
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notable stock: TSLA
The valuation is back to rather ludicrous levels, as even Elon probably recognises. RSI is… KRAZY !
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notable trans: CCL
Shipping bears should send their complaints to JPM, who upgraded CCL, RCL, and NCLH… although the upside targets aren’t that bold.
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notable strength: AAPL
Reflective of the main market… as last Friday’s black candle did NOT play out. Its unusual.
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notable energy: XOM
Difficult start to the week for energy stocks with oil $66s.
The stock/sector is m/t broken.
back at the close…