US equities remain in moderate chop mode, leaning on the upward side, as s/t momentum has turned positive. VIX has melted into the 28s. USD remains weak -0.5% in the DXY 92.50s, which is helping prop up most asset classes.
sp’60min
VIX’60min
Summary
I’m not aware if we might hear any news from Pelosi or Mnuchin before the bell. Do you think either are keeping an eye on the indexes?
The s/t setup for Thursday is mixed. The hourly cycle leans bullish, whilst the stronger daily leans bearish. Unless an announcement is made tomorrow, the market is going to see another wave lower on ‘lack of stimulus’ concerns.
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notable stock: TSLA
Tesla has earnings in AH. Much like NFLX, its a true wild card. One issue… how much profit/income will come from selling carbon credits?
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notable stock: CMG
Chipotle has earnings in AH. Its arguably even more insanely valued than Tesla.
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notable stock: LRCX
Lam Research has earnings in AH. A tier’1 quality tech-hardware company, with good links to many of the semicons. I would favour TSM.
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notable stock: CRSR
S/t speculative bullish chasers, after the recent upgrades…. already surpassing Wedbush’s $25s. S/t over-stretched.
back at the close…