US equities open moderately higher, helped with the latest PPI data supportive of cooling CPI. USD is -0.5% at 99.67 ! US 10yr -66bps to 3.79%
sp’60min
VIX’60min
Summary
*we saw a fair number of black/reversal daily candles yesterday, and it wouldn’t be surprising to see a downside reversal… already seen in DIS and MU.
To be clear, on no basis do I see it meriting any short-side trade.
VIX has filled both downside gaps… with two to the upside, an effective mirror to the SPX.
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notable Dow component: DIS
It is amusing the market sees Iger as the solution to problems. Another tag of teal gap appears probable… but this remains l/t horror from the $203s.
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notable retail: AMZN
Making a play for green gap.
I wonder how Prime Day/s sales went. I didn’t buy anything.
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notable trans: DAL
Earnings were unquestionably good, for what appears the best of the Air Lines. Opening gains are fading. Black candle… as momentum has turned negative.
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notable stock: META
Helped by Morgan Stanley 300>350.