US equity indexes closed a little mixed, SPX +0.7pts (0.02%) at 4227. Nasdaq comp’ +0.3%. Dow -0.1%. The Transports settled +0.3%.
sp’60min
Summary
closing hour action: micro chop… with another failure from 4236. S/t momentum settled broadly flat.
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… and that concludes a pretty sleepy Tuesday. Mr Market appears content to churn under sp’4238 until the CPI data this Thursday.
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notable bond ETF: TLT
Yields cooling back, but the m/t trend remains bearish bonds/bullish yields. CPI threatens a major jump in yields this Thursday.
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notable fin: COIN
Coinbase hit via lower crypto. The m/t trend from IPO day remains bearish. I’d actually consider buying this around psy’ $100.
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notable stock: MU
Very rough day for Micron. Bearish engulfing candle from just under the 50dma. No adverse news I can see… just s/t sporadic cooling. Rest of the semicons could be expected to follow lower Wed, and more so… Thursday.
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Another fine evening. Have a good evening
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more later on the VIX and Indexes by 6pm EST