US equities remain broadly weak. US 10yr 3.68%. USD +0.7% at 111.07
sp’60min
VIX’60min
Summary
S/t equity momentum is on the very low side, and we should see a provisional turn this afternoon. VIX is s/t cyclically on the moderately high side, and vulnerable to cooling into the weekend.
To be clear, a more natural multi-week floor will be from around sp’3700.
Those buying on hopes of a bounce, are at high risk of an opening gap under the June low. Its a minefield of traps, and the cautious will sit back and watch.
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notable stock: AMZN
Red gap tagged. If this is going to bounce… this is the level to look for it.
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notable defensive: LMT
Lockheed is fairing well, although that could be expected considering the geo-political tensions.
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notable horror: BYND
The recent news about the COO (seemingly hungry for human nose meat) isn’t a good sign, for a company whose l/t survival is questionable.
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notable stock: RUM
There are buyers out there.
Rumble.com touting ‘stevewilldoit’ will be exclusive to the platform.