Tuesday Aug 6, 2024
NDX
I am going to show the three major indexes on the same chart. This is a two day, 15 minute chart. Earlier in the day internet headlines were like
Market Roars Back! Better wait till the end of the day before such pronouncements. Right half is today. total range to day about 450 points and at day's end, gave back half of that.
Industrials gave back a good bit
Transports After the peak, transports were further into PARSAR sell territory on this 15 min chart
SPX
I think it is more noticeable on the Industrials and Transports above, the last fifteen minutes the market was sold hard, so much for roaring back.
Ten Year Note Yield - this is a market searching for a bottom, as said earlier today, we may well see higher rates by year end.
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