US equities open a little choppy, mostly leaning higher. VIX is churning.
sp’60min
VIX’60min
Summary
Early chop, with the SPX already having turned red… if briefly.
The risk-reward argues strongly against a short side trade.
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notable fin: BAC
New hist’ high, if s/t vulnerable… more so on the flip side of Labor day.
M/t bullish to $100
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notable semicon: SNDK
Earnings were beyond excellent…
EPS $39.25 vs 34.45est. Rev’ y/y +371.6% to $8.96bn vs 8.39est.
Annual EPS $160 or so… FPE <10.
The opening candle is a hollow red reversal.
Daily momentum has turned positive, but the cautious will not be buying at this time/price.
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notable energy: OXY
Powering upward on good earnings
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notable stock: SPCX
Considerable background chatter about share lockups.
A break under the Monday $104s is clearly viable today.