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Show Notes
Summary of the day
3rd green day in a row!
Breadth still broken
My takeaways:
The Fed is not thinking about thinking about cutting rates
They view that we all are still making too much money and buying too many things
Powell says it is likely that a slowdown will be needed to get inflation down
Historical performance assuming the The Fed has finished hiking already:
Hat tip LizAnnSonders
https://twitter.com/LizAnnSonders/status/1719829522734830018?t=EStm7dRJn-F7zJ4PyrAS0w&s=19
October tech layoffs up a lot, 2x from September.
Breadth
65 new highs
498 new lows
60% advancing 35% declining
81% below 50 day ma
75% below the 200 day ma
Stuck out
Yields closed at the lows 4.75
Indices closed at the highs
ES Levels to watch
AAPL
Strong
Housing related on low yields
All sectors green
Weak
Volatility
Yields
EXTR
CVNA
What to watch
AAPL earnings Thu after close
Friday Jobs numbers
Watch mag 7
Watch yields
Economic data
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