Most US equity indexes are set for net daily declines of some degree. The daily cyclical setup leans to a lower low on Wed’.
sp’60min
VIX’60min
Summary
Bouncing, but the bears could argue structure is just setting up a bear flag.
The bigger daily charts don’t look so great for Wed’/Thurs’, with semicons leading the way down.
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notable stock: PANW
Palo Alto Networks has earnings in AH, which should be fine.
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notable stock: TDOC
Teladoc Health has earnings in AH. The company has a very useful service, but the hysteria has almost entirely eroded, as the stock is a flat-lining zombie.
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notable stock: ENVX
Enovix has earnings in AH. There is a distinct amount of stock-pumping on Twitter in this one, and I’ve a real issue with that. Even the bold will arguably leave alone.
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notable stock: NVDA
Rough day for Nvidia, with momentum having turned negative.
Earnings due Wed’ AH
The daily cyclical setup favours the bears into Thurs’.
back at the close…