US equities are choppy, if remaining below their opening highs. The s/t cyclical setup favours the bears, with the market makers inclined to want to pin to around sp’4400.
sp’60min
VIX’60min
Summary
This merits another highlight…
Daily RSI 76s. Wanna chase here?
Yours truly will consider a short next Tuesday.
–
notable stock: TSLA
Yesterday’s reversal candle played out.
–
notable semicon: NVDA
A new hist’ high.
—
notable retail: TGT
No news… just underlying weakness.
—
notable Dow component: DIS
Wednesday’s bearish engulfing candle from teal gap, makes for a valid s/t high. Reading around, I see the Hulu situation is a real mess. Comcast could force Disney to pay (at least $9bn), for its 33% share of Hulu, but in theory, Comcast and Disney could agree to leave things as they are.
see: https://www.digitaltveurope.com/2023/05/17/comcast-more-likely-than-not-to-sell-hulu-stake-to-disney-says-ceo-brain-roberts/
–
Time for lunch.