Good morning traders,
On Tuesday SPX finished up +1.00% and 2995.68 after making an intraday high of 3003.28 on moderate to firm NYSE internals. We have another small ES gap from 2972.50 to 2975.50 and a classic short chasing profile on bank and health care earnings that provided relief to dwindling expectations. The issue going forward though will be guidance or the lack thereof. The ES point of control is 2997 and the most time was spent around 2998.
NYSE A-D lines closed at +848 and NYSE breadth maintained a level consistent with the finish of +2.92:1. NASD breadth closed at +3.31:1.
The overnight buying action in treasury futures reversed with the 2-year yield up 1 bps to 1.61% and the 10-year gaining 2 bps to 1.77%. The 30-year bond yield added a bps to leave the cash session at around 2.23%.
Off topic: Here is a recent ASPI report on data collection as well as an NYT piece with links to the subject.
Hey @Bugsam definitely not easing! Today was the first day of the program here.
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Good morning traders, On Tuesday SPX finished up +1.00% and...
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