Dow futures moved 0.22% and Nasdaq futures moved 1.69% on the same morning. That 1.47 point gap opened on Sunday night and never filled, and for once it has nothing to do with Wednesday’s Fed.
...Thursday’s news moved price lower exactly as expected, and Friday brings another one. Inside: a V pattern entry sitting at the SPX range lows for the umpteenth time, futures up around 40 points ahead of the 8:30 release, a VIX that isn’t falling nearly as fast as the S&P is rising, crude sat exactly on 100, and a Popper day that was effectively finished before the US had opened.
...A wholesale print beat by a tenth and September hike pricing jumped ten points. The inflation it measured arrived by sea, and the tool being readied for it does not go there.
...August wholesale prices ran hot, September hike pricing jumped ten points to roughly 71%, and the S&P 500 booked a fourth straight loss. The input arrived by sea.
...Uncle Russ has broken out of the smaller range and 2,900 to 2,920 is now the support that decides the next move. Inside: SPX still running upper range to lower with bear pulse bars, Bitcoin going nowhere with no conviction, a Popper day of a 1DTE, a premarket continuation and one 3rd BO loss, and the biggest Wall of Wins in a fortnight.
...Six billion dollars of official demand landed on the long end and yields rose through it. The thirty-year declined to confirm. We work out which instrument was actually doing the pricing.
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