“Always two there are, no more no less. A master and an apprentice.” - Master Yoda
Podcast Available on
Spotify | Apple Podcast | Amazon MusicFollow on Substack Notes
Referral Program for existing Subscribers
* When you use the “Refer a friend” link below or the “Share” button on any post, you’ll get credit for any new subscribers. Here is the link you can copy and paste into any email, text or social media platform:
“https://nyugrad.substack.com?r=1ec55c”
* Once I launch a paywall, your referral credits earned will be retroactive immediately
Show Notes
I start with Yoda’s quote because there are two big forces fighting each other the past few sessions.
* Higher Yields and 7.5% 30 year mortgages
* Risk assets in stocks and the fact fewer and fewer names are holding up the world $NVDA and $TSLA for example
Breadth
* 75 New highs
* 329 New Lows
* 36% Adv / 58% Dec
* % under 50 day ma
Up big pre-market
* ES almost got back to test 4444 level overnight Monday into Tuesday
* But the ES and Nasdaq sold off at opening bell
Why do I keep hammering that you should watch breadth? Breadth was weak all morning. And 11:35am indices gave up after sideways action
2pm update
3pm rally attempt. Breath volume seemed weak vs Mondays close. I suspected a selloff.
3:30pm
Rally attempt was a dud
Strong
It was a deceptive sell off day when you compare magnificent 7, vs indices complexion vs breadth.
Weak
See above. bull should be weary of worsening breadth. 70% of shares are under the 50 day ma. (nyse / amex / nasdaq)
What to watch
NVDA reports after close Wed
Fed speakers Thu morning
Jerome Powell Fri 10:05am
Thanks for reading NYUGrad Stocks and Finance! Subscribe for free to receive new posts and support my work.
