US equities are choppy, if mostly still leaning on the weaker side. The US 10yr yield has cooled from 4.629% to 4.591%
sp’60min
VIX’60min
Summary
A clear case of ‘good luck to those buying this Thursday morning’.
Absolutely net bearish into next week.
–
notable stock: NVDA
I’d accept you could argue s/t structure is a bull flag.
The concern should be a net bearish main market into next week.
–
notable stock: NKE
Nike to resume selling directly via Amazon for the first time since 2019.
… but that doesn’t mean the broken consumer is any more able to afford shoes.
—
notable stock: ZM
Post earnings depression, with momo having turned negative.
Earnings (Wed’ AH), EPS $1.43 vs 1.31est. Rev’ y/y +2.9% to $1.17bn inline. Considering inflation, Zoom has no real growth, but its sustainably very profitable.
—
notable retail: TGT
Yesterday’s hollow red reversal candle played out.
Daily momo prone to turning negative.
The stock remains l/t horror.
time for lunch