US equities are battling to hold broad gains, as the market is distinctly stalling. VIX is just a little weak in the 28s, and it won’t take much of a ‘spooky news’ story to break >30, and onward to next resistance of the 35s. USD remains weak, currently -0.4% at 93.05.
sp’60min
VIX’60min
Summary
S/t momentum is threatening to stall around the key zero threshold… and the bulls should be twitchy. I’m aware there is a Mnuchin/Pelosi meeting…but there is little reason to expect that to pan out.
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notable stock: NFLX
Netflix has earnings in AH. Its a true wild card. The most recent four monthly candles are all spiky… as the stock is stuck .
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notable stock: SNAP
SNAP has earnings in AH. I have never liked the company, but the stock is m/t super strong.
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notable weakness: ZM
Monday’s black candle played out in Zoom. S/t bearish, for what remains s/t overbought. Momentum set to turn negative within 1-2 days… Thursday might be pretty ugly.
back at the close…