Reminder: the biggest bounces happen during topping processes.
Also we got strong consumer data today.
“Walmart beats sales, raises outlook as higher-income consumers continue to turn to the retail giant”
Meanwhile…
There are over 3,300 brand new 2023-24 HarleyDavidson HOG 0.00%↑ Road Glides ($25,000) for sale in USA dealerships at this minute. Could become a problem for $HOG. Sign of the times on a pinched consumer.
3,300 New 2023 - 24 Road Glides on dealer lots
11,200 New Harleys 2023-24 on dealer lots
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Save this spreadsheet or memorize it
Summary of the day
Everything green
Breadth
453 new highs
104 new lows
Nasdaq New Highs/Lows 69 Highs vs 61 Lows
76% advancing 21% declining
39% below 50 day ma
36% below the 200 day ma
Stuck out
10 yr yield was green
Strong
Weak
What to watch
Watch mag 7
Watch yields
Credit card delinquency rate (1991-Present)
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