Stock Markets Analysis and Opinion

Are Large Caps Bracing for a Pullback?

2024.07.10 06:24

Starting with Fed Chairman Powell:

  1. Most Recent Labor Data Sends Signal of Cooling
  2. Labor Market Appears to Be Fully Back In Balance
  3. No Longer A Heated Economy
  4. ‘We Are Well Aware’ We Face Two-Sided Risks

Last night I wrote on the :

“We have heard many discussions on whether small caps matter for the market.”

MAGS Daily Chart

The chart above is clear.

Do we care about the small caps?

Is there a correction coming in large caps (NASDAQ:)?

Did Powell say anything, really?

As we all try to read between the lines, please have a look at where you might consider parking money right now.

ETF Summary

  • (SPY) 5400 support 5600 resistance
  • Russell 2000 (IWM) 197-205 tightest range to watch
  • Dow (DIA) 40k resistance
  • Nasdaq (QQQ) Meager consolidation at the all-time high
  • Regional banks (KRE) Watching the range 45-50 CAREFULLY
  • Semiconductors (SMH) 260 -280 range
  • Transportation (IYT) Not pretty under 64
  • Biotechnology (IBB) 140 pivotal resistance
  • Retail (XRT) 200 week moving average support at 72.75. Needs to recapture 74.50
  • iShares iBoxx Hi Yd Cor Bond ETF (HYG) Pointing more risk on for now



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 64,695.33 1.85%
ethereum
Ethereum (ETH) $ 3,461.15 1.82%
tether
Tether (USDT) $ 1.00 0.00%
bnb
BNB (BNB) $ 577.23 0.26%
solana
Solana (SOL) $ 161.71 4.42%
usd-coin
USDC (USDC) $ 1.00 0.03%
staked-ether
Lido Staked Ether (STETH) $ 3,462.45 1.95%
xrp
XRP (XRP) $ 0.582149 8.88%
the-open-network
Toncoin (TON) $ 7.36 1.67%
dogecoin
Dogecoin (DOGE) $ 0.126004 4.61%
cardano
Cardano (ADA) $ 0.444375 1.84%
tron
TRON (TRX) $ 0.134282 2.90%
avalanche-2
Avalanche (AVAX) $ 29.02 7.36%
shiba-inu
Shiba Inu (SHIB) $ 0.00002 6.23%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 64,644.32 1.81%
polkadot
Polkadot (DOT) $ 6.41 0.49%
chainlink
Chainlink (LINK) $ 14.46 3.35%
bitcoin-cash
Bitcoin Cash (BCH) $ 392.54 1.55%
near
NEAR Protocol (NEAR) $ 6.18 10.11%
uniswap
Uniswap (UNI) $ 8.22 2.23%
litecoin
Litecoin (LTC) $ 72.99 3.18%
leo-token
LEO Token (LEO) $ 5.86 0.30%
dai
Dai (DAI) $ 0.999629 0.06%
pepe
Pepe (PEPE) $ 0.000012 20.78%
matic-network
Polygon (MATIC) $ 0.549619 2.57%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,605.21 1.93%
internet-computer
Internet Computer (ICP) $ 9.51 0.66%
kaspa
Kaspa (KAS) $ 0.18065 0.30%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.44 8.33%
ethereum-classic
Ethereum Classic (ETC) $ 23.71 2.65%
ethena-usde
Ethena USDe (USDE) $ 0.99941 0.19%
aptos
Aptos (APT) $ 7.10 6.00%
stellar
Stellar (XLM) $ 0.107415 3.95%
monero
Monero (XMR) $ 161.59 1.90%
blockstack
Stacks (STX) $ 1.91 1.85%
hedera-hashgraph
Hedera (HBAR) $ 0.077484 1.82%
maker
Maker (MKR) $ 2,930.78 0.76%
filecoin
Filecoin (FIL) $ 4.57 6.36%
render-token
Render (RNDR) $ 6.59 1.94%
vechain
VeChain (VET) $ 0.031861 1.31%
cosmos
Cosmos Hub (ATOM) $ 6.60 4.41%
okb
OKB (OKB) $ 42.89 3.53%
crypto-com-chain
Cronos (CRO) $ 0.095004 0.31%
mantle
Mantle (MNT) $ 0.775708 1.54%
arbitrum
Arbitrum (ARB) $ 0.76597 4.02%
injective-protocol
Injective (INJ) $ 24.37 9.77%
immutable-x
Immutable (IMX) $ 1.51 1.43%
dogwifcoin
dogwifhat (WIF) $ 2.21 15.14%
sui
Sui (SUI) $ 0.875919 7.52%
bittensor
Bittensor (TAO) $ 300.59 0.29%