There was a lot of distance today from bell to bell and in the end very little displacement (I’m an engineer by trade, it’s how I was taught to speak). SPX cash was up 21 cents. The Dow down 10 bucks. Small and mid caps moved about 60bp but it’s worth noting how their future equivalent TF and EMD are selling off right after the bell (edit, selling off very hard).
Treasury futures caught a very nice bid today with ten and thirty year yield moving 6 bp lower and failing to hold key model support. AAPL looked like it would double its efforts of Friday and close above 600 but in the end sold off into the close and with a “5 handle.” The USD continues to be the tell here in many ways. The most hated currency and rather crowded trade as a result continues to hold support on the daily, confirming the model’s long signal.
