US equity indexes closed broadly higher, SPX +30pts (0.7%) at 4369. Nasdaq comp’ +0.8%. Dow +0.4%. The Transports settled +1.0%. R2K +1.2%.
sp’60min
Summary
closing hour action: a little chop, leaning a little higher. S/t momentum ticked lower, settling on the moderately high side.
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… and that concludes a Tuesday. With a new multi-month high of 4375, it was another day for the bulls. The Fed will threaten a major downside reversal, as even some of the mainstream cheerleaders acknowledge we’re due some cooling.
I wait to short just after the 2pm press release.
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notable bond yield proxy: TNX
A choppy day… but bonds have swung upward!
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notable banking ETF: KRE
Whilst Yellen is touting ‘capitalised!’ I don’t expect Powell to help tomorrow!
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notable bank: BAC
Higher with the main market. No hike tomorrow, but one looks due July 26th… as Mr Bond market would agree!
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21c/70f is Goldilocks! Have a good evening
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more later on the VIX and Indexes by 6pm EST