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The DJCI Was the “Tell” That Bonds Would Sell Off
The surge in commodities is bad for bonds. IT makes it much less likely the Fed will lower interest rates, if inflation is rising.
What’s Moving Now?
While NVDA may have grabbed all the headlines, that’s not where the next best setup is waiting. It’s not time to be a bear, let’s look at the relative performers going into next week.
The Huge Negative Divergences Were A HUGE Warning Sign
Even with NVDA opening up, there were so many negative divergences that we shorted everything after the opening.
So Many Negative Divergences. But Big Stocks Still Will Not Roll Over
With the DJT, RTY, /ZB, and /YM negatively diverging, it would be easy to say “short the SPX.” But until I see defined bearish patterns, I will back away from that strategy.
OpEx Trading Day Recap
With metals on the move, trade in gold as well as FCX were on tap today as the monthly expiration has come and gone.
