The SPX breaks a new historic high, making it a net bullish week/month/quarter. VIX is naturally repressed in the 15s.
sp’60min
VIX’60min
Summary
New hist’ high… impressive.
Supports the notion of net upside into Labor day
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notable stock: PLTR
Earnings were good…
EPS 41 cents vs 35est Rev’ y/y +56.7% to $1.93bn vs 1.80est.
The valuation is nearing an FPE of 100
Monday’s black candle failed to play out.
Momentum has turned positive… the stock testing the 200dma.
I expect a break above… if not on this attempt.
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notable stock: CAT
Earnings were not surprisingly excellent..
EPS $8.17 vs 5.71est. Rev’ y/y +22.8% to $20.5bn vs 18.3est.
A little selling from the 50dma… but momo due to turn positive on Wed’
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notable strength: AMD
Earnings due in AH
Daily momentum prone to turning positive on Wed’
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notable space: SPCX
Yesterday’s bullish engulfing candle has played out.
Earnings due in AH.