US equity indexes mostly closed on a weak note, SPX -59pts (0.8%) at 7515. Nasdaq comp’ -1.5%. Dow -0.3%. The Transports settled +0.15%. R2K -0.8%
sp’60min
Summary
closing hour action: new intraday low of 7506, testing a key price threshold. S/t momentum settled moderately negative.
Awaiting earnings from AERO, FBK
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… and that concludes a Monday. A bearish start to the week, but other than tech, nothing of any real significance. The s/t cyclical setup favours the bulls, but Tuesday will likely trade red… at least briefly. CPI or Warsh would be two leading excuses.
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notable bond yield proxy: TNX
The US 10yr yield printing 4.618%
My core premise is a breakout >5.00%, and onward to 7.00%, which would ironically be bullish, especially the fins.
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notable bond ETF: TLT
Higher yields > lower bonds
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notable crypto: Bitcoin
Crypto dragged down by the main market.
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notable crypto stock: MSTR
Friday’s black candle played out. $50 appears an eventuality.
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… as the sun still hasn’t set on me. Have a good evening
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More later on the VIX and Indexes, by 6pm EDT