Up a day, down a day, and a handful of stocks doing the lifting. SPX’s 7660 is holding for the moment, Bitcoin needs 85,000, and I’m waiting to see the logging truck.
...Monday’s tape raised its odds of another rate increase and sold gold by 3.95% in the same session. The textbook says those two things disagree. We go looking for which one is telling the truth.
...The 2-year jumped eleven basis points on Monday as the market raised its odds of another increase. Gold spot, which exists for that exact risk, fell 3.95%. Somebody is wrong.
...SPX is flipping off the 7780 zone again, Uncle Russ keeps up the lazy decline, and my fast bear move is back on the table. Here’s why I’d welcome it with October around the corner.
...The Dow gained 479 points on Friday and 10 NYSE stocks made a 52-week high. The front end fell 6 basis points and the 20-year closed at September’s highest anyway.
...The Dow added 479 points on Friday and 10 NYSE stocks made a 52-week high. Another 93 made a new low. The 20-year closed at September’s highest and the weekend removed the rest.
...Markets tanked, Iran talked peace, markets pumped, and my head came clean off. VIX played peekaboo with 16, Gold barely clung on, and Bitcoin, of all things, turned out to be the voice of sanity. Here’s how my SPX and RUT bear swings are locked, and what BTC needs for the next add-in.
...A wire report of US-Iran talks on reopening Hormuz took 3.59% out of crude inside an hour and turned the equity session around. The bond market, settling later with the same information, closed at the month’s highest yield. We try to work out which one was right.
...A report of US-Iran talks on reopening Hormuz took 3.59% out of November crude inside an hour. The Treasury curve, marked later the same afternoon, closed at 5.53%, the highest of the month. One of them is wrong.
...We banged the bear drum for THE week, and right on cue the market turned on a dime. SPX’s bull setup looks set to void on a 40 point gap, RUT has flip flopped back to the bear, Bitcoin is almost behaving, and everything on the bear side of the Premium Poppers came home to papa.
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