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Show Notes
Summary of the day
Volume was comparable leading up to the July 4th holiday weekend = dismal
Breadth
* 204 new highs
* 123 new lows
* 40% advancing 54% declining
* 56% below 50 day ma
Stuck out
Mortgage bailouts for financial institutions AGAIN, being discussed already!!!
“US Officials Weigh Pathway to Let More Firms Tap Federal Home Loan Banks FHFA considers access for nonbank mortgage firms during review Nonbank mortgage firms currently lack lender of last resort “ https://www.bloomberg.com/news/articles/2023-08-30/us-officials- weigh-pathway-to-let-more-firms-tap-fhlb-backstop
Strong
$EXTR
$SHOP
$AFRM
Weak
$PLTR
$COIN
$DG Dollar General said inventory piling up
Dollar General reported slowing sales in the recently ended quarter and said its inventory of unsold goods is piling up. The Goodlettsville, Tenn., company said it plans to burn through profit in the second half of the year to reduce inventory and improve performance at its stores. Like other retailers, Dollar General also said it expects store theft to keep rising.
Yields
Volatility
What to watch
Watch mag 7
Fri Non-farm payrolls and unemployment
Watch yields
Crypto (are animal spirits alive?)
Economic data
https://www.marketwatch.com/economy-politics/calendar
