US equities are set for significant gains, with VIX having been ground into the 16s. WTIC is churning around $82.00.
sp’60min
VIX’60min
Summary
Whilst the morning was a bit of a mess, today’s secondary wave was far stronger, with Mr Market washing out the 5K short-stops. Next resistance 5040/50s.
I’d accept you could argue a bigger move to green zone/5200s, which is only 3.0% or so higher. Anyone wanting to short… will be careful.
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notable stock: CLF
Cleveland Cliffs has earnings in AH.
Tough one to call. The technical setup leans bullish.
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notable stock: TSLA
Difficult day… with the market spooked by price cuts, and Elon canceling a trip to India. The current candle is a reversal, and leans s/t bullish.
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notable Dow component: VZ
From pre-market gains of +2% to -4%… that is one ugly downside reversal. Lets be clear… earnings were broadly ‘fine’.
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notable oil ETF: USO
For yours truly… small mercy, as oil is set to close with a reversal candle. I guess I’ll be drowning in oil until at least next Monday.
back at the close…