US equities open on a significantly weak note. The break under last week’s low offers a straight run to the 5440/30s. A subsequent bounce to 5610 would still be the natural bounce target. USD is -0.3% at 103.86. US 10yr 4.24%
sp’60min
VIX’60min
Summary
Having broken under last week’s low… next support is 5440/30.
With a new cycle low, last week’s bearish engulfing weekly candle played out.
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notable stock: TSLA
Earnings were ‘mixed’ at best, and the stock is justly knocked lower.
Red gap tagged. I’d note the intersecting 50 and 200dma… soon $205s.
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notable weakness: GOOGL
Post earnings depression.
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notable semicon: NVDA
Lower with the sector/main market.
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notable miner: NEM
Newmont is higher… with gold printing $2427.
Earnings due in AH… and will very good.