US equities are very significantly lower, with the Nasdaq leading the way, currently -2.8% in the 10400s. VIX has clawed to the upper 21s.
sp’60min
VIX’60min
Summary
Well, it ain’t pretty, but then… its a Thursday, as the market is (partly) using good growth data as the excuse to cool back.
Equity momentum has turned negative… bulls should be desperate for a floor >3795.
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notable stock: TSLA
The horror… of the $127s. Only another $94 to go.
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notable weakness: AMZN
M/t bearish to psy’ $50, which looks viable as early as Feb’
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notable stock: F
Just whacked lower with the main market. The $6s look an eventuality.
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notable steel: CLF
We are seeing some sellers into the bounce.
If SPX <3K, Cleveland will be back to the $5s.
Its cheerleader time, but I think I’ll get some tea, and cover a few extra things on Twitter…