More NYSE stocks rose than fell on Tuesday and more NYSE volume went into the ones that fell. Monday did exactly the opposite. One of those two days is lying.
...The bear séance is over. Midterm October has historically been the best month of the year for the Dow and S&P 500, Uncle Dow is already leading the charge, and breadth sits at the lower extremes that marked this year’s turns. Plus the SPX, Crude Oil and Bitcoin reads.
...On Monday the NYSE’s advance-decline line and its up-down volume line finished on opposite sides of parity. The textbook says volume confirms breadth. Here is what it means when it refuses.
...Monday’s index print said nothing happened. Underneath it 1,207 more stocks fell than rose, the Dow and the Nasdaq-100 finished 1.086014 percentage points apart, and the money that was moving went into the biggest names only.
...Consumer sentiment fell 1.8 points to 46.3 and the 2-year closed 5 basis points higher the same afternoon. The shape of the curve’s move tells us which end of the market repriced.
...Friday was the broadest tape since 2 October. It was also the session three phone companies each lost over 10% of themselves, and T-Mobile did 69.5% of its damage in the opening gap, before a single share changed hands.
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