US equity indexes closed on a positive note, SPX +34pts (0.8%) at 4263. Nasdaq comp’ +1.3%. Dow +0.4%. The Transports settled +0.3%. R2K +0.02%
sp’60min
Summary
closing hour action: leaning upward to break a new intraday high of 4268. S/t momentum ticked upward, settling on the moderately high side.
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… and that concludes a Wednesday. It was a mixed day, and whilst the bulls held the 4216 low, the bounces remain distinctly shaky.
Best guess… 4300/4330s, Friday/Monday, before another rollover.
Yours truly is content to watch from the sidelines.
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notable bond yield proxy: TNX, 60min
Lower yields. In theory, we could cool to 4.35%, and that’d be nothing other than just a normal retrace and triple gap fill.
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notable bond ETF: TLT
One up day doesn’t negate mid/long term horror.
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notable banking ETF: KRE
The regional banks are going to suffer via lower bonds.
One of the known names is set to vaporise sometime real soon.
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A sky of grey horror, as the construction continues, as it will… for some years. Have a good evening
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more later on the VIX and Indexes by 6pm EST