“In the Midst of Chaos, There Is Also Opportunity” (Sun Tzu)
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Show Notes
Summary of the day
* Markets rallied until 1pm, then there was a selloff taking back half of the days gains
* but markets closed up and every sector was green
We are simply trying to backtest the falling 50 day moving avg. On the SPY watch if we can get to $440 and how prices react
Magnificent 7
Breadth
* 117 new highs
* 200 new lows
* 70% advancing 25% declining
* 77% below 50 day ma
* 66% below 200 day ma
Stuck out
MSFT and AAPL red
Strong
* Russell 2000 lead
* Many names that are lower quality bounced
* 10 yr still too high
* 30 yr mortgage now over 8%
Weak
* Volatility
What to watch
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.
