S&P Oscillator Remains Overbought
The S&P Short Range Oscillator remains overbought at 3.20% vs. 3.37%.
Position: Short SPY (S), QQQ (VS)
Monday’s After-Hours Advancers and Decliners
After-Hours % Advancers
After-Hours % Decliners
Position: None
This Is the Complacent Feel of a Mechanical Market
When the flow is mechanical, fundamentals are meaningless.
Monday’s Closing Market Stats
Closing Volume
– NYSE volume 17% below its one-month average
– NASDAQ volume 34% below its one-month average
– VIX index: down 1.52% to 15.57
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
Not Broadening
* SPY +0.82%
* QQQ +1.42%
* IWM +0.41%
* RSP +0.01%
Position: Short SPY (S), QQQ (VS)
Howling About the Auto Industry
Wolf Street howls about the auto industry’s structure.
Position: None
Contributor Comment of the Day
From “Meet” Bret Jensen:
Bret Jensen 1h ago
Expect to see more of this into the upcoming mid-term elections Dept.
New Jersey lawmakers have passed a bill that will direct the state’s Board of Public Utilities (PUC) to establish a dedicated data center tariff for facilities with a capacity of 50MW or more, in an attempt to shield other ratepayers from cost increases tied to new builds.
A similar bill was originally proposed in June of last year by Democratic assemblymen Dave Bailey and Joe Danielsen. However, that initial bill was pocket-vetoed by then-governor Phil Murphy, who did not sign it before his term ended.
Position: None
Tech vs Financials
Tech (XLK) vs Financials (XLF) at 1:38 PM:
Position: None
Private Equity Gets Jiggy
Private equity stocks — KKR, BX and APO purchased late last week — are getting jiggy.
Position: Long KKR (S), BX (S), APO (S)