US equities open broadly lower. Most notable… the US 10yr has printed 4.49%. USD is +0.4% at 105.19.
sp’60min
VIX’60min
Summary
A rough open.
Yesterday’s bearish engulfing daily SPX candle played out.
Yesterday’s bullish engulfing daily VIX candle played out.
Market will be prone to bouncing, especially from 11.30am onward, and into the mid afternoon.
*I can NOT, and will NOT chase lower. Instead, I shall wait for a bounce via the 5/15min cycles. We should see some kind of bounce today.. if still settling net lower.
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notable bond yield proxy: TNX, 60min
A monstrously decisive upward break.
Next resistance around 4.70%, and then psy’ 5.00%
You should be hearing alarm bells.
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notable stock: FDX
Earnings were ‘mixed’, EPS was good, but the y/y decline in rev’ should be a concern.
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notable semicon: NVDA
Natural target remain the prior cycle high of the $346s
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notable media: PARA
Hopes of a deal to end the writers strike.