If the Equal Weight S&P Is So Strong, Why Isn’t Breadth Rallying?
Let’s dive in and look at the equal-weight S&P and try to understand why breadth isn’t stronger.
Short Range Oscillator Update
The S&P Short Range Oscillator moved further into overbought territory at 2.93% vs. 2.12%.
Position: Short SPY (M), QQQ (S)
Early Friday Morning Trading
I shorted $QQQ (at 4:45 AM) at $718.03.
Position: Short QQQ (S)
Are the Utilities Ready to Make a Charge Higher?
Ten straight red days for the utilities. Could a bottom near support be what they need to move higher?
Thursday’s After-Hours Advancers and Decliners
After-Hours % Advancers
After-Hours % Decliners
Position: None
It’s Hard to Be Bearish With This Many Stocks Making Big Moves
The indices stalled while 150 stocks gained more than 10%.
Closing Market Numbers for Thursday
Closing Volume
– NYSE volume 3% above its one-month average
– NASDAQ volume 5% above its one-month average;
– VIX index: down 4.43% to 15.11
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
Added to These 2 Shorts
I added to $GRNY and $JOET shorts today.
Position: Short GRNY (S), JOET (S)
Howling About AI’s Cash Burn
Wolf Street howls about AI’s cash burn.
Someday This Will Matter
$TLT at day’s low (bond yields at day’s high).
At some point the interest-rate rise will matter to equities — hopefully in my lifetime!
Position: None