US equities are choppy, if having cooled back from new hist’ highs. The s/t cyclical setup will likely favour the equity bears into early Friday. Broadly though… the market is very mixed, with strength in home builders, retail miners, and energy, but sig’ downside in tech.
sp’60min
VIX’60min
Summary
S/t momentum is due to turn negative … as at 11.00am.
Bodes net bearish into the mid afternoon.
Broadly though, the market is VERY split today.
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notable stock: NVDA
Just a cooling wave!
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notable home builder: KBH
Home builders soaring on hopes of a Sept’ rate cut.
Momentum has turned positive.
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notable trans: UAL
Lower in sympathy with Delta… which had weak guidance.
The current candle is a reversal from the 200dma.
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notable miner: PAAS
Pushing to new highs… as the $28s look viable before end month.