US equities are in minor chop mode. S/t momentum is in the process of turning negative, which should (in theory) result in net declines of some degree. VIX is churning the 15s. Basic upside target… 17s.
sp’60min
VIX’60min
Summary
Well, even some of the bulls recognise we’re s/t overbought.
Basic cooling of two days remains due.
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notable stock: PARA
Two massive daily gains (largely on lower bond yields)… and retracing.
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notable trans: NCLH
The shippers are struggling… partly on travel concerns to the middle east.
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notable energy: OXY
Just cooling with the sector. E’ due Tues’ AH should be good.
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notable health: MRNA
Sister BTNX is higher on earnings, but broadly… the sub-sector of C19 shot makers remain m/t horror.
I should venture out…