US equity indexes closed on a positive note, SPX +55pts (1.0%) at 5751. Nasdaq comp’ +1.4%. Dow +0.3%. The Transports settled +0.5%. R2K +0.1%
sp’60min
Summary
closing hour action: a new intraday high of 5757, just 10pts shy of the recent hist’ high. S/t momentum ticked upward, settling on the moderately high side.
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… and that concludes a Tuesday. It was a net bullish day… although price action feels very tired ahead of CPI-Thursday, and Q3 earnings. The s/t cyclical setup favours the bears.
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notable bond yield proxy: TNX
The US 10yr yield printing 4.057%… with key resistance… 4.06%
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notable bond ETF: TLT
Higher yields > lower bonds.
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notable stock: JPM
Earnings due early Friday should be fine.
I just wonder if the outlook will include the admission that further rate cuts will cut into net interest income.
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Here… a day of sunshine and showers.
Have a good evening
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more later on the VIX and Indexes by 6pm EDT