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Show Notes
Summary of the day
We are at a logical must-defend area for a bounce. We are also heading into end of month and end of qtr so I suspect wild effort to bounce as well. The up volume simply has not shown up yet.
Last four Septembers for the S&P:
2020: -3.92%
2021: -4.76%
2022: -9.34%
2023: -5.19% (thru 9/26)
Last three Q4s:
2020: +11.69%
2021: +10.65%
2022: +7.08%
2023: TBD
Breadth
* 81 new highs
* 752 new lows
* 50% advancing 45% declining
* 80% below 50 day ma
Stuck out
We closed almost unchanged. Markets were down hard at 2pm but then bounced just as hard and went green. Then we limped into the close.
Strong
DASH 4.79%
PI 4.28%
LYFT 4.03%
DKNG 3.94%
W 3.41%
AI 3.34%
CVNA 3.29%
KYVA 2.81%
UCO 2.69%
USO 2.5%
PJT 2.27%
Weak
VFS -12.89%
CART -4.52%
VIX -3.8%
GOLD -3.75%
GDX -2.99%
PYPL -2.7%
CAVA -2.69%
What to watch
Jerome Powell speaks Thursday at 4pm ET
Watch mag 7
Watch yields
Economic data
https://www.marketwatch.com/economy-politics/calendar
Financial Freedom is not free, but the pursuit is worth the treasure.
