US equities are battling to hold gains. VIX is churning the upper 17s.
sp’60min
VIX’60min
Summary
A bounce, but yes… the gains are shaky, as there are sellers into ALL such bounces. A fair number… even some of the mainstream ‘smart guys’ appear open to 4700 in May, and that doesn’t assume any geopolitical wild cards.
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notable stock: NVDA
No news… just s/t speculator buyers with the positive main market.
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notable weakness: TSLA
Not pretty… but its above the lows, as there are buyers out there.
In theory… $100 looks a threat with SPX 4700.
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notable reversal: VZ
Earnings were broadly fine, but the stock has seen a pretty ugly downside reversal, from +2% to -2%.
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notable oil ETF: USO
Minor red gap filled… with WTIC recovering from $80.70 to the $82s.
The current candle is a hollow red reversal.
A net positive close would be… something.
As things are, I don’t expect to exit until at least next Monday, April 29th.
Time for lunch…