US equities remain choppy, with even the laggy Nasdaq turning fractionally positive. VIX has melted into the 27s… as its pretty subdued out there.
sp’60min
VIX’60min
Summary
The SPX is making a play to break above s/t descending trend. That looks overly difficult, not least ahead of the weekend. We should see a mild case of ‘rats selling into the weekend’.
—
notable weakness, GILD
Yesterday saw the FDA approve Remdesivir, but once again, the novelty of that news has quickly worn off. We have an ugly black daily candle, as the stock remains a m/t mess.
—
notable strength, AMD
S/t speculative buyers.. ahead of earnings, due next Tuesday AH.
—
notable stock: ZM
Yesterday’s black candle played out, as daily momentum is increasingly negative.
back at the close…