US equities are choppy. The market is arguably just burning off s/t oversold conditions, before another wave lower.
SPX’60min
VIX’60min
Summary
Little to add. Its merely a case of whether we can break <4127, and if the VIX can settle >20. Regardless… I’ll hold short across the weekend.
notable stock: JPM
JPM has lost its 200dma, which merits alarm bells.
The excuse was news that Dimon is planning to sell 1M shares.
We’ve two big downside gaps to the $122s, as look viable next week.
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notable stock: TSLA
The gains are shaky… as it remains under the 200dma.
A crashy target are the April $152s
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notable energy: OXY
Occidental struggling… not helped with oil in the lowly $83s.
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notable bank: BAC
The fins remain broadly ugly. How long until news that one of the known names is in distress?