US equities open on a positive note, but the gains are shaky, with a reversal underway. Whilst its OPEX – we can expect considerable chop, a swing to moderate declines wouldn’t be a surprise. Certainly, the two leaders – Trans/R2K, are supportive of lower lows into next week.
sp’60min
VIX’60min
Summary
*note the opening black equity candle, with a mirror hollow red reversal candle in the VIX… indicative of an opening reversal.
A positive open, but its very difficult to see anything sustained today. It won’t take much to turn indexes red.
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notable stock: MRNA
Moderna being added to the sp’500, as of next Wed’ morning.
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notable Dow component: INTC
Intel sig’ higher on news of talks to buy Global Foundaries for $30bn.
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notable energy: OXY
Occidental opening positive, but the gains have already turned to broad weakness, as next week should offer a lower low.
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notable stock/reversal: AA
Alcoa earnings were good, but we have a very powerful downside reversal. Another ‘sell the news’ event. S/t bearish. M/t bullish… the commodity train.