US equities are powering upward… as price action is almost identical to Monday. The SPX has climbed 400pts since the FOMC.
sp’60min
VIX’60min
Summary
FOUR HUNDRED points… an incredible rebound.
Yes, we’re s/t extremely overbought, but you’d have to be clinically insane to short this side of Labor day.
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notable stock: BAC
New hist’ high. Daily momo due to turn positive.
S/t bearish between Labor > midterms.
Absolutely m/t bullish to $100… on the premise of higher rates
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notable semicon: MU
The H/S appears set to not play out.
Daily momo due to turn positive
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notable car: TSLA
Teal gap due… with momentum set to turn positive within 1-2 days
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notable stock: SNDK
The cyclical setup is VERY bullish for Wed-Thurs’
Earnings due Wed’ AH