US equities open on a choppy, if weak note. VIX remains subdued in the 16s. WTIC $70.74. Gold $2630, if having cooled from a new hist’ high of $2644. USD is +0.2% at 100.49.
sp’60min
VIX’60min
Summary
S/t equity momentum is weakening, and should have turned negative by 11am. Again, its quad-opex, we really shouldn’t expect any ‘drama’ today, altohugh I’d be open to a pin around 5650.
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notable stock: NKE
New CEO… as if that will solve the underlying problems of weak demand.
The current candle is black, as the smarter rats are bailing.
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notable weakness: FDX
Earnings weren’t pretty… EPS $3.60 vs 4.80est. Rev’ y/y -0.5% to $21.6bn vs 21.9est. Weak guidance. Yesterday’s black candle played out. The break <200dma offers 241/240.
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notable stock: LEN
Earnings were fine… Earnings in AH: EPS $3.90 vs 3.63est. Rev’ y/y +7.9% to $9.4bn vs 9.2est. Yesterday’s black candle played out.
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notable stock: INTC
Underlying weakness. Yesterday’s black candle played out.