US equities open a little choppy, if leaning on the positive side. There are signs of an opening reversal, as s/t momentum is due to turn negative by late morning.
sp’60min
VIX’60min
Summary
The s/t cyclical setup favours the bears.
Target shall remain 4270, unless we break a new high.
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notable stock: AAPL
Friday’s hollow red reversal candle played out.
Recent earnings should remain a concern, as there is simply no growth anymore. The only hope is multiple expansion, on the excuse of… what?
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notable Dow component: DIS
Earnings due Wed’ AH. Its difficult to see them offering a positive outlook.
Netflix subs were fine, so maybe the mouse will try to use DisneyPlus to support the notion that ‘everything is fine’.
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notable stock: TSLA
Last Friday saw a black daily candle.
The current candle is also black, and leans s/t bearish.
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notable miner: GOLD
Cooling with gold printing $1988.