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Show Notes
Summary of the day
Volume was comparable leading up to the July 4th holiday weekend = dismal
Breadth
204 new highs
123 new lows
40% advancing 54% declining
56% below 50 day ma
Stuck out
Mortgage bailouts for financial institutions AGAIN, being discussed already!!!
“US Officials Weigh Pathway to Let More Firms Tap Federal Home Loan Banks
FHFA considers access for nonbank mortgage firms during review
Nonbank mortgage firms currently lack lender of last resort “
https://www.bloomberg.com/news/articles/2023-08-30/us-officials- weigh-pathway-to-let-more-firms-tap-fhlb-backstop
Strong
Weak
DG 0.00%↑ Dollar General said inventory piling up
Dollar General reported slowing sales in the recently ended quarter and said its inventory of unsold goods is piling up. The Goodlettsville, Tenn., company said it plans to burn through profit in the second half of the year to reduce inventory and improve performance at its stores. Like other retailers, Dollar General also said it expects store theft to keep rising.
Yields
Volatility
What to watch
Watch mag 7
Fri AM Non-farm payrolls and unemployment
Watch yields
Crypto (are animal spirits alive?)
Economic data
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