US equities open significantly lower, but there is already a pretty strong upside reversal.
sp’60min
VIX’60min
Summary
Early price action bodes pretty good for the bulls.
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notable stock: TSLA
Q1 deliveries, Q1, y/y -13.0% to 336681 vs 390343 est, and vs 459445 prior yr.
China deliveries, March, y/y -21.8% to 172754
Data via ‘China passenger car association’.
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notable car: RIVN
Q1 deliveries, y/y -36.0% to 8640
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notable semicon: NVDA
Just lower with the main market.
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notable steel: CLF
A rather powerful upside reversal.
S/t bullish…. m/t bearish.