SPY down this morning ever so slightly. Should we really be so surprised? Our entire narrative was that if the bond market is stable, we should see very strong risk on moves.
Look at the bonds TODAY. Another clear signal to try dips on the long side in my view. Why? Well the whole reason for such a destructive decline in wealth over the last few months in this cycle has been accelerated by interest rates. In my view, if they can materially impact the markets to the downside, they can do the same to the upside.
GOOGL coming back into near support
Be careful with AAPL here though. This is failing at the 100 day moving average
ARKK is breaking out
Bitcoin seems like a buy if it would retest the 20,000 area given how this is a hold of the 2018 highs.
I am getting out of my CCJ long here though, this is not looking good anymore after failing to get above the 200 day and past trend support
Industrials looking interesting, check out the Dow Jones US Delivery Services Index
SPX at a prior gap zone, so expecting this to get sort of slow but dips should be buyable if bonds go up.
TSLA is a great barometer for risk. Would you be bearish the market if we are at a 20 day high in Tesla?
Will be back after the close with a video brief.