New closing high for the S&P Friday. Number of S&P stocks making new highs: 8. Must be all that broadening out 😄

Market Vane Bulls 79% Highest since summer 1997, just prior to the Asian economic crisis, which started with the revaluation of the Thai Baht..

TLT 83. Bonds do not buy, if it brings out supply. 🤪

New highs are almost always good news; it's just the last one that is not. –Greg Morris

Adding to precarious conditions in tens, UST30Y has again breached the psychologically important 5% level, raising the perennial question: Good buy or goodbye?

#ETTD

Let's do a little TA lesson today since I get asked all the time about islands (on charts, not tropical ones) CCL has an island -----IF today's gap does not fill. Fill the gap, no island. I hope you can see there is 'water' all around that island.

Nearly every guest on tv in the last few days: the market needs a correction but it's all healthy. Reminder: everyone wants to buy em down 10% until they actually go down 10% As @walterdeemer.bsky.social says, when the time comes to buy you won't want to

When everybody is bearish, they’re probably going to be wrong. When everybody is bullish, they may be right for a while. –Burton Crane, as paraphrased by @walterdeemer.bsky.social

Today's NASDAQ Wunderkinder is Hub Cyber Security Ltd: $HUBC. Traded a billion shares already today. Price: 43 cents, up 32 cents. Was over 3000 a year ago. Dollars.

Mid-week humor. H/t @MebFaber

Walter @walterdeemer.bsky.social shared this on the other site yesterday. Great story.

Comment: SPX has demonstrated notable continuation following extreme momentum in momentum-factor stocks since MTUM was launched in 2013. Different this time?

Carl Quintanilla@carlquintanilla.bsky.social · 3mo ago

GOLDMAN DESK: “.. since 1980, there have been 11 other distinct episodes where Momentum rallied by 20% or more in a 3-month period. on average, Momentum went on to deliver an additional gain of 6% during the following month, .. then typically declined during the following two to three months.”

Goodbye, Mr. Bond?

good morning dear Helene and Happy Birthday! @hmeisler.bsky.social

Smart chart. H/t @TechCharts

$QQQ on the loose.

Comments: 1) SPX >6993 is required to produce a signal via weekly close. 2) There were many prior successes since SPX inception, with notable failures in May 1957 and May 1969. 3) The best signals were qualified by greater drawdowns than the current case.

Mark Ungewitter@mark-ungewitter.bsky.social · 4mo ago

Price momentum leans bullish.

Tomorrow’s session should be informative. While geopolitical developments could easily derail the nascent SPX reversal, a show of strength, such as closing above the open and in the top third of the daily bar, would be constructive, in my view. Thank you Captain Obvious?

World Liberty Financial — at the center of Trump’s crypto empire — down 15% today and below .08. 52-week high was .46.

Equity put/call ratio goes sub .50 for the first time since January. My pinned tweet works just fine.

The market opened huge potential breakaway gaps from three-week head-and-shoulders bottoms this morning. To fill them, $SPY would have to decline to 659.61 and $QQQ to 588.98. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

Both gaps have been filled.

Walter Deemer@walterdeemer.bsky.social · 5mo ago

This morning’s gaps left an island top behind. $SPY would have to advance to 653.00 and $QQQ to 580.42 to fill them. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

This morning’s gaps left an island top behind. $SPY would have to advance to 653.00 and $QQQ to 580.42 to fill them. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

83% of big daily advances occur below the 200dma. –Trivia Dept.

3 straight days the Spoos have traded more than 100 handles off the highs good times

Another day, another downside gap at the opening. $SPY would have to rally to 644.82 and $QQQ to 573.43 to fill this morning’s gaps -- and $QQQ still has an unfilled gap from yesterday at 585.69. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

$SPY would have to rally to 654.24 and $QQQ to 585.69 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is. Also, that 13-day ma has defined the short-term downtrend pretty nicely of late.

They've already been filled.

Walter Deemer@walterdeemer.bsky.social · 5mo ago

$SPY would have to decline to 657.03 and $QQQ to 587.93 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is… but if this morning’s gaps don’t get filled quickly they could be breakaway gaps.

$SPY would have to decline to 657.03 and $QQQ to 587.93 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is… but if this morning’s gaps don’t get filled quickly they could be breakaway gaps.