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Show Notes
Summary of the day
Yields Yields Yields!
The bond auction this afternoon was very very tepid. Low demand means lower prices to attract buyers. Lower bond prices results in higher yields. That was the sell off in the afternoon in a nutshell.
1pm circled
Apparently Jerome Powell had hawkish comments at the IMF panel today (which I haven’t watched).
Danielle DiMartino Booth was interviewed today regards to Powell and I love how she refers to his “Dirty Harry” alter ego.
So sad that the global financial markets are at the whims of one man and one organizations decisions on rates.
Breadth
* 122 new highs
* 429 new lows
* 21% advancing 74% declining
* 66% below 50 day ma
* 69% below the 200 day ma
Stuck out
Was flat until the afternoon
TSLA and GOOG are below 50 daythe rest of Magnificent 7 are above
TSLA is the only mag 7 under its 200 day
Strong
AFRM
DIS
VIX
COIN
KGC
Weak
Anything sensitive to higher interest rates. Which is basically everything…
Here is just a sampling…
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.
