US equities remain choppy. The s/t cyclical setup favours the bulls, with minimum upside target of teal gap… ahead of Powell this Friday morning.
sp’60min
VIX’60min
Summary
Suffice to add…. a pretty tedious Tuesday… but the action remains dynamic in energy…
—
notable stock: EQT
Nat’ gas stocks under pressure, with an effective 10% drop in NG from $10.03 to $9.05. Full reversal… bearish engulfing candle. S/t bearish.
–
notable weakness: PFE
As someone who sees this as the ‘big short’ into the Fall, I’m marginally annoyed I’m not already onboard the ‘train to the TRELIX trials’.
–
notable retail/Dow component: HD
A filth day lower. I’m not aware of any news. M/t bearish to the March 2020 $133s.
–
notable energy: OXY
Buyers on every little cooling wave… and Berkshire is clearly one of them.
Time to venture out, back at the close…