US equity indexes closed significantly lower, SPX -58pts (1.4%) at 4229. Nasdaq comp’ -1.9%. Dow -1.3%. The Transports settled -0.8%. R2K -1.7%
sp’60min
Summary
closing hour action: choppy, if holding the low of 4216, and leaning upward. S/t momentum ticked upward, settling marginally positive.
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… and that concludes a Tuesday. With a new cycle low of 4216 and VIX 20s, it was very much a bearish day. Most realistic s/t bullish case is a bounce to 4300/4330, as even teal gap is looking out of range.
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notable bond yield proxy: TNX, 60min
A new cycle high of 4.806%.
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notable bond ETF: TLT
Printing the $84s. Support $80.
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notable banking ETF: KRE
I have to expect renewed financial earthquakes.
More of the names are going to fail.
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A little sunshine… as my nation continues to splinter*
*today’s conservative party (they’re the ones currently in power) conference is causing great upset, as the populace are arguing for/against the mass immigration. On one level its amusing to see, on another… tragic.
Have a good evening
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more later on the VIX and Indexes by 6pm EST