US equities are very significantly lower. VIX has picked up… if only to the 21s, still reflective of a ‘no-fear’ mainstream.
sp’60min
VIX’60min
Summary
I’d be surprised if 3795 is taken out.
Regardless… we’ve now two upside gaps.
11am… is a typical turn/flooring time.
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notable horror: TSLA
A new cycle low of the $129s. I have to wonder how Elon (probably asleep right now) will cope when Tesla loses psy’ $100.
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notable weakness: AMD
As ever… the first to lead up AND down. Today… impacted by Micron.
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notable retail: TGT
Target appears set to be cut in half… with target of $70.
Core problems… inflation biting into margins, and a weak consumer.
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notable dow component: CAT
Lower with the main market… cooling back from yesterday’s new historic high, which itself remains surprising.
As night falls… its time for a much needed lunch…