US equity indexes mostly closed on a weak note, SPX -10pts (0.2%) at 5853. Nasdaq comp’ +0.3%. Dow -0.8%. The Transports settled -1.2%. R2K -1.6%
sp’60min
Summary
closing hour action: choppy, if leaning upward. S/t momentum settled on the moderately low side.
Awaiting earnings from $SAP $NUE $WRB $BOKF $LOGI $ZION $AGNC $WASH $TFB $RLI
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… and that concludes a Monday. It was a bearish day, but nothing that merits any attention. The s/t cyclical setup favours the bulls… but structure IS a bear flag. Further, daily momentum (SPX) threatens to turn negative on Tuesday.
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notable bond yield proxy: TNX
The US 10yr yield printing a new s/t high of 4.186%
No rate cut Nov’6th ?
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notable bond ETF: TLT
Higher yields > lower bonds.
The break below key price threshold is significant.
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notable banking ETF: KRE
Regional banks lower for a second day, not helped by lower bond prices.
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Sunset was some three hours ago. Looking out my west facing window, was as close to going out today as I got. Have a good evening
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more later on the VIX and Indexes by 6pm EDT