US equities continue to fade, with the R2K and SPX also turning red. USD is +0.3% at 103.27
sp’60min
VIX’60min
Summary
*note the opening SPX black candle played out.
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With a red Dow, Transports, R2K, and SPX, its another reminder that the market is still s/t broken, with no sign of a floor. Tomorrow is Thursday, which will inherently favour the bears.
It should only take one adverse headline (not least from Tariff man) to get the SPX to the mid/low 5400s before the weekend.
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notable stock: AAPL
Yesterday saw a daily close <200dma.
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notable weakness: DIS
Another stock that lost it’s 200dma yesterday, and bodes for at least a little lower.
The Marvel franchise is a mess. Background chatter that Disney might even sell off the Lucasfilm/Star Wars franchise.
Due to the woke nonsense, the mouse has managed to kill TWO golden geese. Its astounding that Iger and KK haven’t been kicked out.
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notable trans: UAL
Its been a rough seven weeks for the airlines.
The underlying concern is economic slowing.
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notable steel: CLF
Mr Market is still struggling to fathom whether tariffs will be a net positive.
time for lunch