Equities remain seeing minor weak chop, and its a bit of a messy start to the week. With the break under the Friday low of sp'1980, it remains the case of lower lows. There remains zero reason why another micro cycle won't take the market to at least 1973.
A tiresome start to the week... and if you've sent me an email or PM recently... don't expect a reply. My webhosts are a bunch of idiots, and have once again changed the server settings without telling any of their clients.
Regardless.. no reason for anyone to be short... there is NO downside power.
..and for the moment, no point being long....until we've at least tested the cluster of support in the low 1970s.
Notable weakness, TSLA -6%. I've no idea why, did Musk say anything about it being over-valued again?
11.13am.. All the momo stocks are really starting to stink, AMZN -2.9%... FB/TWTR following.
Its not a good sign for the equity bulls.
11.22am.. Dow.. +3pts.... R2K -1.3%..... seriously...that is one wacky divergence.