Podcast EP 55 The Boogie Man is Back, and he is PISSED! (Sep 22)
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Show Notes

Summary of the week

• VIX up 30%

• Russell 2000 down 3.8%

• Nasdaq Composite down 3.6%

• Nasdaq 100 down 3.3%

• S&P 500 down 2.9%

• Dow down 1.9%

Summary of the day

• Magnificent 7 are all under their 50 day moving averages

• UAW says it is prepared to strike for ‘months’ in leaked messages)

• They tried to rally mid day but that bounce failed miserably and closed near lows

Breadth

• 69 new highs

• 573 new lows

• 41% advancing 54% declining

• 79% below 50 day ma

Stuck out

Yields were down a little on Friday, and yet risk was sold. Not a very good sign

$ITB is relatively overprices in context of Housing starts. the two have been in lock step since 2006. There is a massive divergence and this will resolve one way or another.

Strong

CRUDE OIL

$EXTR

Weak

AFRM -5%

COIN -4.65%

AI -4.44%

TSLA -4.23%

DKNG -3.3%

ROKU -3.29%

FRPT -3.17%

What to watch

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar) 

Chart Gallery

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