US equities open moderately lower, but then… its a Thursday. Red gap of sp’4329/20 is realistic today, before a bounce (if choppy) into the weekend/OPEX.
sp’60min
VIX’60min
Summary
We should see further downside… if choppy this morning. Market will be highly inclined to floor from red gap, and then broad chop into the weekend.
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notable stock: OXY
Energy stocks struggling with the main market and oil.
Mizuho maintain ‘buy’, 37>39.
Yours truly is now looking for the 25s.. before resuming upward.
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notable weakness: TSM
Earnings were broadly good, but we’re seeing a sell the news event. Yesterday’s black candle played out. Absolutely still m/t bullish.
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notable strength: NFLX
Yesterday saw a legacy gap fully filled. Today there is chatter that Netflix wants to move into gaming. I’d almost wonder if some don’t think they might buy Gamestop?
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notable miner: GOLD
Barrick Gold lower with the sector, as yesterday’s black candle has played out. I’m almost tempted to add, but will instead just focus on picking up some energy stocks… but again…. NOT this side of OPEX.