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Show Notes
Summary of the week
VIX up 30%
Russell 2000 down 3.8%
Nasdaq Composite down 3.6%
Nasdaq 100 down 3.3%
S&P 500 down 2.9%
Dow down 1.9%
Summary of the day
Magnificent 7 are all under their 50 day moving averages
UAW says it is prepared to strike for ‘months’ in leaked messages
They tried to rally mid day but that bounce failed miserably and closed near lows
Breadth
69 new highs
573 new lows
41% advancing 54% declining
79% below 50 day ma
Stuck out
Yields were down a little on Friday, and yet risk was sold. Not a very good sign
ITB 0.00%↑ is relatively overprices in context of Housing starts. the two have been in lock step since 2006. There is a massive divergence and this will resolve one way or another.
Strong
CRUDE OIL
$EXTR
Weak
AFRM -5%
COIN -4.65%
AI -4.44%
TSLA -4.23%
DKNG -3.3%
ROKU -3.29%
FRPT -3.17%
What to watch
Watch mag 7
Watch yields
Economic data
https://www.marketwatch.com/economy-politics/calendar
Chart Gallery
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