US equities are choppy, if moderately lower. VIX 16s… prone to 19/20s with SPX 5905.
sp’60min
VIX’60min
Summary
Another bounce attempt, if still net lower.
The only issue is whether we break a new intraday low.
I sit back… on a suitcase of cash.
I’m very content to hold OXY into earnings (Tues’ AH)
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notable stock: AAPL
Structure IS a big bear flag.
If correct, the next wave lower won’t be pretty.
Supportive of SPX 5900
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notable weakness: NVDA
Lower with the main market
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notable retail: CVS
Earnings were better than expected…
EPS $1.19 vs 0.93est. Rev’ y/y +4.1% to $97.71bn vs 97.19est.
I’d still argue… superior alts… WMT, COST, or a more boring HD
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notable stock: LYFT
Lower… despite better than expected earnings
Hopes of 1000 Robotaxis in Dallas… next year.