US equities open in chop mode, as whilst the market is s/t extremely oversold, neither are there many willing buyers out there. The USD isn’t helping, currently +0.5%, in the DXY 93.91s. WTIC prints $34.92, with major support 32/30.
sp’60min
VIX’60min
Summary
The bulls should be concerned, as much like Tuesday… after a massive drop… all the market is able to muster is chop. Support 3230s, and then the 200dma… around 3130. The latter appears on the menu.
–
notable stock: SPOT
Earnings were better than expected, but this is still not a profitable company, and we’re seeing a fierce sell the news event. Momentum is set to turn negative. Target.. 200dma/red zone.
–
notable strength: TWTR
Helped by Pinterest. Earnings due in AH. Opening black candle… not great.
—
notable strength: F
Ford catching a bid on earnings.
—
notable mining ETF: GDX, daily
Opening chop… the 200dma in the $34s appears due, with a PF target of the $33s. Right now, I’m looking to buy next Monday or Tuesday, ahead of the election result.
Yours… trying to be patient.