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Show Notes
Summary of the day
I can’t help but get the sense we are at the point of the movie before anyone knew of the iceberg. With the majority of the country very hopeful their TSLA and AAPL will remain in good graces.
The largest IPO of the year was trotted onto the markets today in $ARM, note this is Softbank whose investment track record is not too stellar
PE 110! Softbank owns 90%
SPY is 9 points away from 1 yr highs. or 7% from lifetime highs, despite all the economic headwinds I noted for weeks
Bond prices continue to fall
Yields and interest rates continue to rise and remain high
Oil is going much higher
Russell 2000 led today
Cup and Handle in play
Breadth
174 new highs
248 new lows
70% advancing 25% declining
64% below 50 day ma
Stuck out
Oil, Energy, Rates and Yields all rising along with risk assets. This will not last too many sessions
Strong rally, all sectors green
Technology was 2nd to last though
Strong
ARM
CVNA
KMX
COIN
ETSY
Weak
VIX
SG
NFLX
ZG
What to watch
Sep 20, 2pm Fed rate decision and guidance
Watch Mag 7
Watch yields
Economic data
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