US equity indexes remain mixed. S/t momentum is on the low side, and the s/t setup leans to the bulls, and arguably… for Mon/Tuesday.
sp’60min
VIX’60min
Summary
The loss of the 3329s remains a surprise. In any case, the s/t cyclical setup offers another swing upward. VIX is supportive of that view.
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notable weakness: AAPL
Goldman touting ‘sell to $80’, whilst Morgan Stanley have a ‘buy to $130’, although they appear open to be ‘aggressive buyers around $100’
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notable stock: TSLA
Even the hysteria of Tesla is currently negative. I’m already starting to wonder where it might settle with next Friday’s OPEX.
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notable horror: NKLA
Citron Research have joined Hindenburg Research, in touting Nikola as a fraud. Nikola is threatening the lawyers. It makes for some twisted sideline entertainment.
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notable Dow component: MSFT
Another close under the 50dma, which does merit main market alarm bells on a multi-week outlook.
back at the close…