US equities are choppy, with most indexes having turned marginally positive. Nasdaq remains a distinct laggard. Nat gas has cooled from $6.54 to $6.34.
sp’60min
VIX’60min
Summary
A real mess of a morning. S/t equity structure is a bear flag, with a mirror bull flag in the VIX. The bigger daily cycles still favour the equity bears ahead of the Easter break.
*Interesting sideline political chatter that LePen is almost evens with Soy Macron. Whilst I’d not trust either candidate to take care of a rat, its amusing to see the WEF’s lackey at threat of getting Le Boot!
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notable stock: TSLA
Tesla is struggling, as momentum has turned negative. The third day lower of four, as orange gap is almost fully filled.
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notable bank: BAC
Banks are catching a bounce… but broadly broken. 200dma set for a death cross under the 50dma next week. Bulls can’t be bullish unless >50dma. Earnings due early Monday Apr’18th.
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notable energy: RIG
Transocean higher with the sector.
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notable miner: LAC
Momentum is increasingly negative, for what is s/t broken.
Time to check on the cheerleaders. Pete will again be in the house, so mute button will be OFF !