US equity indexes mostly closed on a weak note, SPX -42pts (0.8%) at 5572. Nasdaq comp’ -0.2%. Dow -1.1%. The Transports settled -3.1%. R2K +0.2%
sp’60min
Summary
closing hour action: choppy, leaning a little weak. S/t momentum briefly turned positive, if settling fractionally negative.
Awaiting earnings from $SMSI $MXCT $HRTG $VTS $BWMN $CASY $GRPN $FOA $WEST $SSP
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… and that concludes a Tuesday. With a new cycle low of 5528, it should be seen as a net bearish day. I’m looking for capitulation around 5400.
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notable bond yield proxy: TNX
The US 10yr printing 4.291%, partly helped by the better than expected JOLTS data.
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notable bond ETF: TLT
Higher yields > lower bonds.
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notable crypto: Bitcoin
Recovering from 76K to 83K. A more natural floor would be 73K
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notable crypto stock: MSTR
Still no daily close <200dma. Kinda impressive.
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I guess I can still get pictures of the moon.
Have a good evening
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more later on the VIX and Indexes by 6pm EST