US equities are choppy, as the s/t cyclical setup favours the bears. VIX is churning the 18/17s… as a spike to the key 20 threshold is very much viable.
sp’60min
VIX’60min
Summary
We have an interesting afternoon ahead… as s/t momentum should turn negative, which threatens a snap/break lower. The 4720/4700 zone is valid within 2-3 days.
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notable health: PFE
Pfizer cooling back… despite endless stories about the latest govt/regime order for the shots and pills. Momentum has turned negative.
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notable horror: PTON
A more natural floor would be the 31/30 zone. Even then, I can think of a few hundred superior stocks… without trying.
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notable stock: TWTR
A failing company. The loss of Dorsey is a problem. I’d see it as a valid short once Trump’s platform is up and running.
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notable miner: FCX
I’d be a buyer if Freeport can cool by -2% or more by Thursday.
Time to check on the cheerleaders…