US equities are broadly lower, lead (not surprisingly) by the Nasdaq. For now… its just a retrace of Monday’s very significant gains. VIX is churning the 24/23s.
sp’60min
VIX’60min
Summary
Little to add, for what is just a retrace. The upper end of yellow gap is natural target, whether this afternoon or early Wednesday.
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notable stock: F
Ford is powering upward, as momentum is due to turn positive. Big target are the 2014 $13s. Any monthly close >13.50 would be decisive, and offer the $18s. Options, March 12th $12.50 CALLS
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notable weakness: TWTR
S/t stuck from new hist’ highs. M/t bullish 90/100… although I remain skeptical of Twitter’s outlook that rev’ will double into 2023.
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notable strength: MOS
Mosaic remains m/t strong, target 34/36.
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notable airline: UAL, 60min
S/t price structure is a bear flag, offering the 51/50 zone, before resuming upward.
Time to catch a sunset…