Watching the last 15 minutes was like waiting for the boulder to come crashing down!
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Show Notes
Summary of the day
10 yr rising in the am. 4.22% vs 4.1% on Fri.
Builders sell off
Rug pull last 15 min
Breadth
* 150 new highs
* 247 new lows
* 23% advancing 73% declining
* 63.5% below 50 day ma
Stuck out
Home builders
Consumers line up to save $5-6 on gas
https://youtube.com/shorts/bFZNZFXE2lE
#airbnbust $ABNB bust update on housing
Types of buyers today
* All cash
* No mortgage on existing home and downsizing
* Millenials who can afford a 5.5% new home builder rate buy down
Watch the 50 day ma
3:55pm rug pull. But if you follow breadth it would have told you mid day that there was weaknes. And it would have kept you out or leaning to the downside.
Magnificent saved thw Nasdaq from a even worse close.
10 year treasury closed near high. Home builders near the lows.
Strong
$ABNB Being added into the S&P 500
$TSLA
Mag 7
Yields
Weak
Broad market
Russell 2000 $IWM
Mid caps $MDY
Bonds
Gold
Financials closed below 50 day ma $XLF
What to watch
Watch mag 7
Watch yields
Economic data
https://www.marketwatch.com/economy-politics/calendar
