tyb
Market Report
The index(s) pretty much did the normal patterns on these types of days. An initial drop and then a claw back to finish better then they started.
Volumes are just at averages on DOW, NAS but the SP500 remains the problem child, volume-wise. This is because this represents the meat of real activity and most
are unwilling to accept that this sector is improving quite a bit. Over time it has a better return than the others but it's not "sexy".
Today's screen cap highlights the NAS as it was down the most. Seeing those volume spikes throughout the day (blue dots) and those are supporting it.
The tech sector is a wreck, fundamentally speaking, but the results are what they are. How else do you describe Google and it's $18b "hole" in the last earnings report??
You don't so they have decided to place a hug amount of accountability into the "goodwill" bucket and thumb nose at everyone by saying "we make the rules so fuck you".
Not one ANALyst has questioned them on this to my knowledge-at least in a public way.
China’s new ambassador to the United Nations, Zhang Jun, said Beijing would take “necessary countermeasures” to protect its rights and bluntly described Trump’s move as “an irrational, irresponsible act.”
EAT A BAG OF DICKS- How logn have you bled us dry? now you can't so fuck you very much
China on Friday vowed to fight back against U.S. President Donald Trump’s abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.
and then he says this: “On the major issues of principle we won’t give an inch,” she said, adding that China hoped the United States would “give up its illusions” and return to negotiations based on mutual respect and equality.
:/
As a result of this grand-standing bullshit everything was affected by yet another failure from munchkins and his counter-part.
I do not know enough about Lighthizer to figure out if he is tied up in all this bullshit but I think not as he seems to be the adult in the room but again I do not know for sure. Munchkins however……he is the block here imo, as well as China trying to play hard-ball.
U.S. Treasury yields extended their week-long slump on Friday as global bond markets rallied on the escalation of U.S. trade tensions following President Donald Trump’s vow to impose additional tariffs on China.
The short-end of teh yield curve was slaughtered here and the ramifications moar muted on the longer dated issues. Still a HUGE problem overall. Luck for them the week is over.
In Europe, all maturities for German government bonds are now trading at negative yields.
Adjusted for real inflation they have been at negative yield for several years but hey they do not live in the real world-like we do (people), ours have been effectively this way but for a shorter period of time
The 30-year German bond yield -10.36% briefly fell into subzero territory for the first time on Friday. In other data, the U.S. international trade deficit for June narrowed slightly to $55.2 billion, from $55.5 billion.
This is an improvement and as mentioned last month will not be solved in a short period of time. Slow steady erosion of globalism is what is habbening here.
See Cap#3 for moar color on our 10 year note. This is going to be a topic of discussion over the weekend for the system. Lights on in the middle of night "moments" for them going forward.
Chinese stocks were lower for the last three days with big caps worst and tech names the least bad, for now.
European stocks cratered today - the biggest single-day drop since Dec 2018 - with Germany and France leading the way lower on the week. and as a result the bonds are also dropping in yield.
The trade agreement helps us much, moar here: >>7312282, >>7312395 pb POTUS signs deal to export beef to EU.
Broadly, this was the worst 3-day drop for US stocks since Christmas Eve and worst week of 2019…
Stocks were- as always - bid in the last hour…See Cap#2 for volume into close, until POTUS said "he could raise China tariffs to a much higher degree." Nasdaq was the week's biggest loser (and Dow lost the least of the majors).
Part 1/2
Part 2/2
All index(s) have dropped or broken through a technical selling level (50 day moving averages) so it will be interdasting to see tha tthe herd decides to do with that.
Bank stocks were battered, tracking the collapse of the curve. Have cash anons, this is impacting the capital positions on teh assets they have, the further the banks equity's drop the moar they "have to have".
The FRB passing these pieces of shit on the stress tests is going to add to the sting later. Another arrow into it's remaining credibility. Credit spreads blew wider on the week..and so did the cost of insuring them. This a MAJOR issue going forward.
They are all insured against failure but who or what is going to make those payments??? Just something else to think about.
Of note: Gold reached a new record high against the pound sterling..this is beacuse it's value has dropped and the things tied to it have to adjust to that reality.
See Cap#5 for the performance of it in dollars. Oil did nothing special today and the volume says it is stuck here, the stick from 8 hours ago tells the tale. The buying "surge" failed to follow-through. Mentioned this in the morning report.
Patterns do not always tell the tale but that one did.
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
https://www.kitco.com/charts/livegold.html
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
https://finance.yahoo.com/quote/%5EIXIC?p=^IXIC
well soybeans were lower so you may have just lumped them into the others..easy to do. They got a small pop but are back to late may levels still. Dollars are the reserve currency of the world still so until that changes everyone must adjust to this. The gold priced in british pounds is on the rise because that currency is being hammered. A bit moar complicated than this but hope that helps.
they are either at or about to cross. Sort of playing the will they or won't they game on both. RSI is an ok thing to watch but over the several years most of this has been rendered ineffective.
Chipotle Exec Chair sold $ 22.44m in shares-Aug 1
Chipotle Mexican Grill's National Avocado Day was a smashing success. Its TikTok challenge – #GuacDance – which invited customers to post videos on TikTok,
was the video site's highest-performing branded challenge to run in the U.S., according to a company press release.
The campaign drove over 250,000 video submissions, which received 430 million video starts during its six-day run.
The promotion also resulted in Chipotle's biggest guac day in history, with employees serving 802,000 sides of guac Wednesday.
Chipotle used an additional 7,500 cases, roughly 187,500 pounds of avocados, to meet the demand of the holiday.
In total, that's 18,500 cases, over 420,000 pounds of avocados, just on National Avocado Day.
"We were blown away by the passion people have for our guac and the enthusiasm for National Avocado Day," CMO Chris Brandt said in the release.
"The overwhelmingly positive responses, as seen in both our digital orders and the 430 million #GuacDance TikTok videos, confirm our fans' real appreciation for Chipotle's handmade guac."
https://www.marketscreener.com/CHIPOTLE-MEXICAN-GRILL-IN-12109/news/Chipotle-Mexican-Grill-GuacDance-dominates-TikTok-29003507/
https://www.finviz.com/insidertrading.ashx?oc=1350873&tc=2&b=2
Google Q2 2019 10-Q release.
The "hole" is here. Highlighted area shows Q1 2019 and Q2 2019.
https://abc.xyz/investor/static/pdf/20190725_alphabet_10Q.pdf?cache=6a9f26d
I used the accum/dist moar heavily when I was active. But I tended to not hold things for very long after 2007-8 FWIW
feeling good fellow "terrorist"