US equities are set for significant net daily declines, with VIX having printed 20.48. On any basis… an ugly Tuesday.
sp’60min
VIX’60min
Summary
*VIX 2pm candle is spiky, and looking ‘tired’ from around the key 20 threshold.
A new cycle low of 4216.
I’m guessing we’ll bounce… but I thought that yesterday.
At least I wasn’t bold enough to try to play the bounces.
Instead… I wait for a bounce to re-short. 4300/4330 would be acceptable.
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notable stock: AAPL
Fairing a little better than the main market.
S/t… tough to call. More broadly… bearish to the $130s.
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notable Dow component: HD
Reflective of the broken Dow.
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notable strength: BA
A truly bad run… but ironically set for a net gain.
One stock suggestive of a main market bounce.
More broadly… bearish to the $170s.
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notable trans: CCL
Carnival sinking with the other shippers.
Recent earnings were good, although the outlook has to be suspect, if you consider the main market and economy into 2024.
back at the close…