US equity indexes closed significantly higher, SPX +72pts (1.1%) at 6445. Nasdaq comp’ +1.4%. Dow +1.1%. The Transports settled +3.0%. R2K +2.9%
sp’60min
Summary
closing hour action: micro chop, but printing a new hist’ high of 6446. S/t momentum settled moderately positive.
Awaiting earnings from $CRWV $RGTI $CAVA $GRAL $ZVRA $REKR $HRB $NVGS $DDI $ATEX
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… and that concludes a Tuesday. With a new hist’ high, it was a day for the bulls. Today’s gains were far more impressive relative to the inflation day. For now… Mr Market is playing a game of self-delusion. It can’t possibly end well, but then… it never does.
*the s/t cyclical setup favours the bears, but again… bears should be on holiday until Sept’2nd.
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notable bond yield proxy: TNX
Moderately higher yields.
Broadly… its all chop of course.
Wake me up when >5.00%, or <3.25%
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notable bond ETF: TLT
Higher yields > lower bonds
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notable crypto: Bitcoin
+0.9% at $119, but $90K doesn’t look difficult in Oct’.
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notable crypto: XRP
+14cents at $3.27, but $2.00 looks realistic in Oct’
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Day’31. Have a good evening
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more later on the VIX and Indexes by 6pm EDT