US equities are set for significant gains. VIX is reflective of bouncing equities, already having been ground into the 14s.
sp’60min
VIX’60min
Summary
Suffice to add… a net bullish day. S/t momentum is on the higher side, but I’d be inclined to seeing a tag of teal gap… 5610, before swinging lower.
Last week’s bearish engulfing candle is STRONGLY suggestive of a lower low (5497) this week.
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notable stock: CLF
Earnings are due in AH. The stock is mostly in limbo, whilst the Nippon Steel/US Steel deal remains unresolved.
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notable stock: NXPI
NXP semicon’ has earnings in AH, which should be fine.
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notable strength: TSLA
Bouncing with the main market.
I’m inclined to see a snap lower on Tues’ AH earnings.
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notable stock: DIS
Underlying weakness. Orange gap is clearly viable with earnings in early August.
*I’ll likely host a Space around 3pm.
back at the close…