We’re seeing some gains in 2o year bonds via TLT but is this a recovery or a pause before a larger correction? Here’s one view.
Back at the hourly chart of the new market neutral index QQQ is still holding top slot driven almost entirely by APPLE. In fact, 80 of the NAZ100 are in the red. The VIX has managed to eke above 14 (14.10 as of this post) and TLT (white line has been on a slide all day. NAZ volatility is picking up in anticipation of ?????. Volume continues at a stagnant pace, looking to end the day at 35-45% normalcy. XLE is finally taking a breather after a nice run.
OK>>>what’s going on here? Bonds look ready to tumble, VIX looks ready to tumble, equities look ready to tumble. Will the Qs be the last man standing? (along with Walmart). Now there’s an odd couple but it actually makes some sense if you ponder it. Kids going back to school…buying computers and all the other pricey peripheral stuff and of course they need clothes and supplies so maybe this is the trend until Labor Day.
