US equities are choppy, holding under the earlier high of sp’3529. VIX is cyclically on the very low side, with s/t momentum prone to turning positive.
sp’60min
VIX’60min
Summary
The s/t cyclical setup continues to offer a cooling wave… at least to the low 3400s. VIX is primed for a spike into the weekend. Whilst I don’t see equities as a valid short, its an excuse to not chase at these levels/time.
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notable stock: SQ
Square has earnings in AH. The stock is wildly over-stretched. Far superior alt: PYPL
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notable stock: UBER
Uber has earnings in AH. I still don’t like this one, even after the Cal’ court ruling on drivers.
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notable stock: ROKU
Roku has earnings in AH. Much of the hysteria has faded. Far better companies out there.
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notable stock: PTON
Peloton has earnings in AH. I guess rev’ growth will be very strong, and the company is turning a profit (if moderate).
back at the close…