US equity indexes are battling to turn positive. VIX has cooled to the 23s. Gold $1996… which is pretty good, considering the stronger dollar.
sp’60min
VIX’60min
Summary
Equities are s/t cyclically low. VIX is s/t cyclically high.
On balance… we could expect a day or two of ‘bearish consolidation’, if leaning upward, before resuming lower into end month/Q1.
Yours truly is comfortable to sit back and watch. Right now, I’m looking at getting involved next Tuesday morning. I’d be surprised if we’re anywhere north of 4K.
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notable eurotrash: UBS
… as the novelty of being effectively merged into Credit Suisse has long since worn off. I’d expect the Swiss Govt’, or rather the SNB (in association with the ECB?) to eventually have UBS nationalised.
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notable regional banking ETF: KRE
Holding up well to the main market.
Broadly… I’d look for this to get cut in half.
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notable semicon: NVDA
Ohh the horror, as even Nvidia is red!
This remains one of the more insanely value stocks.
Its a reminder to me why shorting indexes is far less problematic than an individual stock.
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notable Dow component: DIS
A Dow laggard since it maxed out in March 2021. I’d note the recent $84s. The March 2020 low of the $79s aren’t that far down. There really isn’t any core support until the $40s. I fully accept that as crazy talk.
*Doesn’t mean I’m not bullish Mandalorian or Marvel though!
Its cheerleader time, but some six months after my initial ‘CNBC vacation’, it has become a permanent one, if with very brief check-ins, if only to grab a screenie.