In today’s briefing:
- Watch RTY Trigger for NDX New Lows
- Roblox Analyst Day Observations
Watch RTY Trigger for NDX New Lows
- Call to re cycle shorts at targets on September 12/13 and buy the USD at DXY 108 is paying off. Use an uptick early this week to add to shorts.
- NDX remains our top US short but an inflection below RTY 1,775 pivot support will increase downside conviction for a hard NDX bear press to 11,500 and 11,000.
- SPX 3,750 pressure test expected, if below will increase odds of a new low. Monitor DXY 111.25/50 for an early warning dollar top.
Roblox Analyst Day Observations
- Roblox Analyst Day featured some interesting new initiatives around advertising and marketplace dynamics.
- The company will launch a self serve advertising platform in 2023 that has the potential to be worth an incremental 20% of revenues and margin supportive.
- The company is also allowing developers to start introducing scare items, and begin participating in the on-platform resale market.
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