US equity indexes closed on a positive note, SPX +32pts (0.5%) at 6038. Nasdaq comp’ +0.6%. Dow +0.25%. The Transports settled +1.3%. R2K +0.5%
sp’60min
Summary
closing hour action: a new cycle high of 6043. S/t momentum settled fractionally positive.
Awaiting earnings from $GME $GTLD $PLAY $SFIX $PETS
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… and that concludes a Tuesday. With a new cycle high, it was a net bullish day. Mr Market feels tired, but the bears remain powerless. Maybe CPI-Wednesday would be the excuse for some sig’ cooling, but more broadly… why wouldn’t we expect a new hist’ high >6147, whether its this month, or not until July.
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notable bond yield proxy: TNX
The US 10yr yield cooling to 4.40%.
An eventual break >5.00% appears a threat this fall.
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notable bond ETF: TLT
Lower yields > higher bonds.
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notable crypto: Bitcoin
A little weak.
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notable crypto: XRP
S/t vulnerable… if only a day or two.
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Have a good evening
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more later on the VIX and Indexes by 6pm EDT