Oscillator Becomes More Oversold
The S&P Short Range Oscillator moved to a greater oversold at -1.68% vs. -1.27%.
Position: None
Investors Are Finally Noticing What the Market Has Been Warning About
Industrials, transports, and equal-weight stocks are struggling, while market breadth continues to deteriorate. The question now is whether fear has arrived too late.
Tuesday’s After-Hours Advancers and Decliners
After-Hours % Advancers
After-Hours % Decliners
Position: None
Tuesday’s Closing Market Stats
Closing Volume
– NYSE volume 4% above its one-month average
– NASDAQ volume 16% below its one-month average
– VIX index: up 9.45% to 16.33
Breadth
Sectors
% Movers
TheFly’s HeatMaps
Position: None
Market Sees Worst Action in Months, Putting New Pressure on Labor Data
New lows outnumbered new highs three to one with no rotation or dip buying taking place.
Getting Large on Gold
I have moved to large GLD.
Position: Long GLD (L)
I Bought Shares in Shein’s IPO So You Don’t Have To
The Hong Kong market debut of Shein has got plenty of bad press. Here’s why the first-day move isn’t as bad as it looks.
Boeing Gets Union Update as We Eye Adding More Shares
We continue to project a resolution between the two side as management focuses on increasing deliveries.
Programming Note
I am going to deliver my valuation model discussion (mentioned in my opener) until early tomorrow morning.
A heads up.
Position: None