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Show Notes
Summary of the day
“Too late for what? The republic to fall? It already has, and you just can't see it, there is no justice, no law, no order, except for the one that will replace it.” - Darth Maul
I shared on Monday how breadth was horrendous. I also shared how the magnificent 7 were being bought while everything was being sold off. In Substack notes I pointed to how the Russell 2k was down 1.58% on Monday and a dow equivalent would have been over 500 points.
Well that all came to pass today. They sold everything on heavy volume. Yields are above 4.7% on the 10 year.
Breadth
41 new highs
1,226 new lows!!!
17% advancing 79% declining
85% below 50 day ma
72% below 200 day ma
Charts
Magnificent 7
Stuck out
Crude oil looks like it wants $110
Strong
Yields
Volatility
Oil, energy, coal
Weak
Everything
What to watch
Watch mag 7 and major moving avg (50 day, 150, 200)
Watch yields
Watch energy prices
Economic data
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