One item I hadn’t glanced at in weeks is $SPX200MA, the measurement of what percentage of stocks are above their 200-day moving average. It’s quite a sight to see just how steady the overall breakdown has been, particularly since the mega-bounce lately is doing nothing more than clamoring back to the former support level. A U-turn should be forthcoming as the percentage of stocks continues to make new lows.
Intuitive Machines is a relatively young company and a very popular stock whose bounce is, I think, just about over. That gap should represent an exhaustion point for its own bounce.
First of all, with respect to the premium post last night and my solicitation for feedback, all I can ask of my Gold and Platinum members is about their feedback is………..
Last night, all the markets sold off in a steady fashion, but the Midnight Magic has returned, and, whoosh, it just blasted off from there. No, there isn’t news about “even MORE narrow” tariffs. It’s just people falling all over themselves to get back in.
