US equities remain choppy, with indexes set to close mixed. Nasdaq remains resilient. VIX appears due to settle in the 18s.
sp’60min
VIX’60min
Summary
A real mess of a day.
Bulls can tout the 4216 low is holding.
Bears can argue we’re just burning off s/t conditions.
Both would be right.
In the bigger context… ongoing price action sure isn’t pretty, with the bigger monthly cycles all having rolled over.
—
notable stock: AAPL
Battling to settle net higher, after the keybanc downgrade, and news its rolling out a software update that will make the new iPhones run cooler… aka… slower.
–
notable casino/resort: MGM
Along with WYNN and LVS, MGM has broken a new cycle low.
A good example that just because something is oversold, doesn’t mean it can’t go down further. Just consider this… and then ‘what if’ SPX 4K, never mind anything lower.
–
notable strength: TSLA
Tesla set for powerful net gains. Impressive.
–
notable horror: BYND
A new historic low for Beyond Meat. Fake products, that have been broadly rejected by the US/global consumer. The stock is a $0.00
back at the close…