US equity indexes closed very mixed, SPX +3pts (0.1%) at 4372. Nasdaq comp’ +0.4%. Dow -0.7%. The Transports settled +1.3%. R2K -1.0%
sp’60min
Summary
closing hour action: initially positive to 4382, leaning weak to 4352, with a micro ramp in the final minutes to settle fractionally positive. S/t momentum ticked lower, settling marginally negative.
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… and that concludes a Fed day. A net bullish day, having broken a new multi-month high of 4391, if swinging lower to 4337.
Yours truly is marginally annoyed on the sidelines… but it could be worse.
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notable bond yield proxy: TNX
Considerable chop… with yields settling sig’ lower.
Broadly, I have to expect a major break >4.10%, with a hike July 26th.
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notable banking ETF: KRE
Rough day for the regional banks.
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notable bank: BAC
Reflective of the bigger banks… settling weak. Momentum might turn negative next week.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST