US equity indexes closed a little higher, SPX +33pts (0.6%) at 5509. Nasdaq comp’ +0.8%. Dow +0.4%. The Transports settled +0.4%. R2K +0.3%
sp’60min
Summary
closing hour action: micro chop, leaning upward to break a new intraday high. S/t momentum settled on the moderately high side.
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… and that concludes a Tuesday.
Whilst the s/t cyclical setup favours the bears, I’d not expect much from a half day into July 4th. If anything, if the ADP jobs data is weak, it’d likely be seen as ‘bad news is good news’, with the market clawing a little higher on hopes of a rate cut.
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notable bond yield proxy: TNX
US 10yr printing 4.414%
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notable bond ETF: TLT
Lower yields > higher bonds.
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notable banking ETF: KRE
Helped by lower yields/higher bonds. Broadly… its all chop.
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Walking along the sidewalk, next to the urban freeway.
Have a good evening
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more later on the VIX and Indexes by 6pm EDT