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Show Notes

Your mission if you choose to accept it, is to fight inflation without causing a recession. Good luck Jerome Powell. This message will self destruct in 5 seconds!

Breadth

* 73 new highs

* 421 new lows

* 20% adv 75% declining

* 66% are under the 50 day ma. Not good (NYSE AMEX and Nasdaq)

Stuck out

Premarket was muted but bad Asia session

Open flew higher but dow was up 170 and sold off

Nasdaq lagged

Morning

We touched 4444 as I deducted and bounced. 4444 is the high volume area

10:05am already weakening

Choose your FOMC adventure

By Noon time

12:11PM NY

Full day picture. Not good.

Strong

Short etfs, Volatility

Walmart, Costco, Home depot, TGT

Weak

What to watch

Yields and USD

NVDA earnings Aug 23

Magnificent 7

Moving avgs. 50, 100, 200

Chart Gallery

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Podcast Episode 30 Mission Impossible (Aug 16) 07:44 Share

Not Your Advisor

Shownotes Transcript

Podcast Episode 30 Mission Impossible (Aug 16)