Welcome to the One-Day Trading Week. Now that we’re done with all these stupid holidays (stupid with, of course, the notable exception of the inimitable Juneteenth), we’ll have eight solid weeks of non-stupid holiday trading before us. This morning, the jobs report came out, and it was a total snooze-fest, with the made-up numbers equaling the targets. At first, the /ES exploded to new lifetime highs, although shortly before the opening bell it is effectively unchanged.
The small cap futures, /RTY, had a coronary, spiker lower, blasting higher, and is, as of me typing right now, is down about a fifth of a percent.
I’d also like to note that the last stock holding up this entire ridiculous market, Nvidia, isn’t exactly dressed for success. Let’s see if it can lay waste to Wednesday’s pop to lifetime highs.
As Heels-Up Harris reminds us – – and I want you to remember this for a market that seems to be perpetually going higher – – we can be unburdened by what has been. Listen to it for four minutes solid to really let the message sink it, and I apologize in advance if you pull your ears off your head.
