US equities are increasingly struggling, set for sig’ net daily declines. M/t rising trend is around 4260. VIX is pushing toward the key 20 threshold. USD +0.25% at 105.96. US 10yr 4.56%
sp’60min
VIX’60min
Summary
Whilst I’m not short… at least I’m not long. Those trying to buy the bounces are having an increasingly difficult time, as the market keeps selling lower.
Teal gap is now 102pts to the upside.
The ultimate issue is whether the 200dma (4194) is broken AND held under.
Lets just see how we close.
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notable stock: COST
Costco has earnings in AH. The concern should be narrowing margins, not least due to higher wages.
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notable weakness: AMZN
Difficult day for Amazon.
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notable Dow component: AAPL
Reflective of the Nasdaq.
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notable bank: BAC
A new cycle low… with zero sign of a floor.
back at the close…