US equity indexes mostly closed on a positive note, SPX +9pts (0.2%) at 5836. Nasdaq comp’ -0.4%. Dow +0.9%. The Transports settled +0.9%. R2K +0.2%
sp’60min
Summary
closing hour action: leaning upward to print a new intraday high of 5838.
S/t momentum ticked upward, turning positive.
Awaiting earnings from $KBH $AEHR
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… and that concludes a Monday. Early broad downside, but recovering upward. The s/t cyclical setup favours the bulls. Even if Tuesday opens weak on the PPI data, I’d look for an upside reversal, as 5900 looks pretty easy by late Wed’. I just wonder if 6K for this Friday’s OPEX.
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notable bond yield proxy: TNX
The US 10yr printing a new cycle high of 4.805%.
A test of psy 5.00% is clearly viable in Feb’.
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notable bond ETF: TLT
A new cycle low in bonds.
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notable crypto: Bitcoin
A brief foray under $90k… but swinging back upward.
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notable stock: COIN
A new cycle low. Today’s candle is a hollow red reversal.
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Cold… but sunny, and I can live with that. Have a good evening
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more later on the VIX and Indexes by 6pm EST