US equities open on a weak note. S/t momentum is set to turn negative, which will likely be a problem into the afternoon.
sp’60min
VIX’60min
Summary
The ECB raising rates initially saw the Euro strengthen… but that has fully reversed to a stronger dollar… which isn’t helping equities. S/t bearish… if only briefly.
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notable stock: TSLA
Earnings were ‘reasonable’, and the multi-year growth outlook of 50% is very impressive.
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notable stock: F
Partly… its arguably due to Tesla.
Partly… battery chatter. I see news of partnering with Rio Tinto AND Compass Minerals.
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notable energy: KMI
Early weakness, but its already turned positive.
For now… I hold, but I’m twitchy to exit.
*UPDATE … exited from $17.60.
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notable miner: FCX
Earnings missed, as the company struggled with lower copper prices.
Having sold yesterday, I’d buy back with orange gap.