US equities have seen another swing lower, as the market has taken out the early low. VIX is not entirely reflective of equities, holding under the early 35s. USD remains a pressure, +0.8% in the DXY 93.43s.
sp’60min
VIX’60min
Summary
RED gap filled. Market is s/t extremely oversold, and due a bounce to the 3450/3500 zone. I’d accept there is threat we’ll just keep on falling into early Wednesday, but the longer this goes on, the higher the risk of a powerful whipsaw higher.
Arguably, even the bolder bears will be OUT… or closing out, into the close.
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notable stock: TSLA
Rough day for the Robinhood/Wallstreetbets lunatics, as their beloved Tesla is set for severe net daily declines… testing the 50dma.
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notable stock: AAPL
Much like Tesla.. set for net declines, but will perhaps settle with a reversal candle, and that will lean bullish for 1-2 days.
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notable stock: GM
The market is certainly very pleased with the partnership with Nikola.
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notable financial: WFC
Last Friday’s black candle played out, for what is the gross sector laggard. I do NOT like this one, as even the Buffett/Berkshire continue to exit.
back at the close…