US equity price action remains shaky, with the two leaders – Trans/R2K, once again turning red. Regardless of the close, Friday threatens a lower low. USD is +0.3% at 108.10, which isn’t helping.
sp’60min
VIX’60min
Summary
Chop chop… as its the style of price action matters… as its distinctly shaky. Bears could argue the bounce is weak, with some indexes due to settle red.
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notable stock: NKE
The Dow component of Nike has earnings in AH
The concern should be guidance, for what looks vulnerable to being smashed -10%.
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notable stock: FDX
FedEx has earnings in AH
The cyclical setup favours the bulls.
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notable stock: TSLA
A second day lower, as yesterday’s bearish engulfing candle (from a new hist’ high) played out. Momentum threatens to turn negative within 1-2 days.
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notable stock: MU
The irony is that earnings really weren’t that bad!
back at the close…