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Rollercoasters are such fun during the Dog Days of Summer

Quite the Rollercoaster today-  What appeared like the early Post-Yellen market movement was reversed.. and then THAT subsequent movement thereafter ALSO was wrong, and the initial move took the forefront yet again.   So we went from having the US Dollar higher to lower to higher while Treasury yields did the same, and Stocks are back down UNDER key support after having regained 2182-  SO the end result of this wild see-saw seems to be (1 hour to go) that stocks are turning lower.. while Treasury yields and the US Dollar are breaking out-  Both DXY, TNX exceeding trendline resistance as of now-     S&P futures under 2165 have little until early August lows at 2141- The VIX has made a 1 day range of 23%,   and as might be expected, this rate increase has resulted in Utilities and Telecomm falling hard today, while Healthcare is nearly positive, but all 10 sectors right now are negative, and breadth has shifted to 2.5/1 negative.. ULTA, SIG, MOS, DRI, BBBY, COH are the days' biggest losers, all down 2.5% or greater, while ADSK, STX, ILMN, HSIC are all higher by 1.40% or more

 

Dollar index set to breakout of its one-month downtrend along with regaining former late July lows, both of which are near-term positives for the USD after early whipsaw

 

10yr yields also now set to break this intermed.term downtrend with a close up above 1.60%, so a meaningful move here today and also a huge whipsaw-  What's interesting for those that follow Demark is that both Gilt and Bund yields have confirmed DAILY TD SEQ buys today, yet have not yet made the breakout move, and very well might happen next week

S&P now set to close UNDER 2165 with 45 mins to go, which would make this near-term vulnerable down to 2141 near early Aug lows