US equities are significantly lower… with VIX having printed 22.85.
sp’60min
VIX’60min
Summary
Its 11am… first opportunity for a floor/turn.
The s/t cyclical setup favours a bounce into early Wed’.
Whilst a formal test of psy’ 4K appears an eventuality, the more cautious bears will be out… or at least have an increasingly tight stop.
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notable bond yield proxy: TNX
The US 10yr is nearing psy’4.00%.
It doesn’t have to clear it on the first attempt!
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notable weakness: AMZN
Structure is a H/S. Neckline around the 50dma… which I’d guess will hold… for a little longer.
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notable reversal: WMT
Walmart has already turned positive. Bullish engulfing candle!
Still… the outlook wasn’t so great.
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notable steel: CLF
Price increase announcement.
time for lunch…