US equities are choppy, if holding moderate gains.
sp’60min
VIX’60min
Summary
SPX hourly momentum prone to turning positive into the close.
VIX … is ‘minor noise’.
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notable stock: CAT
A third day lower… yellow gap effectively filled.
Arguably net bullish into mid Sept’
Red gap/200dma is likely to be hit, if not until late Sept’/Oct
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notable weakness: BAC
A little weak. The current candle is a hollow red reversal. Net bullish
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notable retail: UAA
Earnings were pretty lousy…
EPS 5cents vs 2est. Rev’ y/y -3.2% to $1.09bn vs 1.10est.
The annual decline in sales… yet another reminder of the broken consumer.
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notable stock: SPCX
The chasers are piling in.
Monday’s $104s appear secure.
S/t bullish … IPO $135s, then psy’ $150