US equities open on a weak note, but there is no downside ‘power’. VIX is churning the 19s. WTIC $70.56. Gold… new hist’ high $2756, with Silver $34.85.
sp’60min
VIX’60min
Summary
S/t equity momentum is on the low side. The bulls will likely get opp’ to turn most indexes positive by mid afternoon.
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notable stock: HD
A fourth day lower, as the retailers struggling.
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notable Dow component: MMM
Earnings were… mixed: EPS $1.98 vs 1.90est. Rev’ y/y -21.5% to $6.29bn vs 6.06est. I’m not aware for the annual drop in rev’. The current candle is hyper-bearish engulfing.
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notable defence: LMT
Earnings were fine: EPS $6.84 vs 6.50est. Rev’ y/y +1.3% to $17.1bn vs 17.3est. Yesterday’s black candle played out.
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notable miner: AG
Silver miners continuing to power upward with silver.
Even the bold will be raising their stops.