Since the 20 April crash higher, the number of stocks above their 20 period moving average has fallen from 83% to around 40%, and it is sat near 65% now. The index has kept climbing anyway. Inside: the sentiment chart, the SPX breakout setup, and why the ETF poppers beat the cash yesterday.
...July wholesale prices printed zero and the S&P 500 cleared 7,800 for the first time. Every company that published audited numbers into that record was sold. We work out why.
...The S&P 500 cleared 7,800 for the first time on a wholesale inflation print of zero. Inside that record, Cisco fell 8.4% after the best revenue quarter it has ever booked.
...SPX managed 25 points yesterday and the 3 day average is now under 40, which would have counted as a spicy day even in the 2008 crash. Meanwhile the VIX sold off hard as though we had trended 50 points straight up. Inside: why the swings are still on the sidelines, and the RUT breakout that needs a pullback first.
...July CPI matched consensus on all 4 readings. The S&P moved 20 points, VIX hit a cycle low, and bitcoin volatility hit a 2-year low. Then the dollar quietly took the whole move back.
...