US equity indexes closed rather mixed, SPX +5pts (0.1%) at 4298. Nasdaq comp’ +0.2%. Dow +0.1%. The Transports settled -1.1%. R2K -0.8%
sp’60min
Summary
closing hour action: minor chop, if leaning a touch lower. S/t momentum ticked lower, settling fractionally positive.
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… and that concludes the week. With a new multi-month high of 4322, it was a net bullish day to end a net bullish week. The s/t cyclical setup favours the bears for early Monday, but I don’t expect anything significant until the Powell starts talking next Wed’ at 2.30pm.
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notable bond yield proxy: TNX
Yields climbed into the weekend… ahead of next week’s FOMC.
I do NOT expect a rate hike next Wed’, but instead July 26th
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notable bond ETF: TLT
Lower bonds (if fractionally, on the longer duration), as yields climbed.
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notable banking ETF: KRE
We’ve a s/t double top from the $44s.
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20c/68f… finally a summer’s day.
Have a good evening
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more later on the VIX and Indexes by 6pm EST