US equity indexes closed a little mixed, SPX -9pts (0.2%) at 4128. Nasdaq comp’ u/c. Dow -0.5%. The Transports settled +0.6%. R2K +0.2%.
sp’60min
Summary
closing hour action: micro chop… as s/t momentum continued to tick upward, set to turn positive early Wednesday.
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… and that concludes Tuesday. It was a pretty tedious day, as the market is floor building from orange gap. The s/t cyclical setup very much favours the bulls… at least to teal gap.
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notable stock: COIN
The CEO was earlier touting $6bn in cash, but that is clearly customer funds, and not ‘company’ money. The l/t survival for Coinbase is highly questionable.
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notable bond ETF: TLT
Bonds leaning weak… already near the June lows, back when SPX 3636 !
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notable bank: BAC
Banks struggling to the main market, as momentum has turned negative.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST