US equities are choppy, but set for sig’ net daily gains. VIX continues to churn the 20s, reflective of a mainstream with zero concern ahead of Christmas.
sp’60min
VIX’60min
Summary
Whilst I’d be open to yellow gap being tagged… not least on a Thursday, 3795 appears secure, with prime upside target of 3950s… if not until next week.
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notable stock: MU
Micron has earnings in AH. The company has long since warned 2023 is going to be difficult. M/t bearish $36s.
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notable stock: TSLA
Regardless of the close, with a new cycle low of the $135s, its to be seen as another net bearish day for Tesla. Hell, we’re barely $100 away from the ‘crazy talk’ H/S target of 34/33s.
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notable dow component: AAPL
Reflective of the bouncing main market. Yesterday’s reversal candle played out. The bigger issue is whether this will lose psy’ $100 in Q1.
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notable energy: OXY
Momentum is prone to turning positive tomorrow, which should carry across into next week. 50dma $68s
back at the close…