US equities remain choppy, with the market recovering from a low of sp’4292… just 70pts above the Monday low. VIX 30s are reflective of a twitchy mainstream.
sp’60min
VIX’60min
Summary
Chop chop.. but underlying price pressure remains negative… as all bounces are being sold into. Until we’re back above the daily 10MA – currently around 4442, this market has to be seen as s/t broken.
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notable stock: CAT
Earnings were good. More broadly, the stock has seen a major fail to re-take the monthly 10MA, and is m/t bearish.
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notable energy: OXY
A new multi-year high, helped with WTIC printing $88.79.
THREE black candles. Very rare. Bodes s/t bearish.
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notable stock: RIVN
A new hist’ low, if catching a bounce. As the IPO $78s are around 50% up!
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notable miner: LAC
Dragged lower by the main market. 200dma $21s
yours… to the sun!