Michael Turvey

Death crosses and golden crosses have never been exit or entry signals.

Weekly $SPX update: three down weeks, a nothing week, and a 2.5% bounce this week. Pretty typical uptrend behavior.

Are the people forecasting future rate cuts the same people that have been dead wrong on the economy for the past year?

Weekly $SPX update: signs of stabilizing after a 3 week pullback. 4340 is a decent near-term support to keep an eye on.

Weekly $SPX update: saw a great quote this week, apologies I can't remember who, but went something like this: "An overdue pullback sounds reasonable before it happens, but feels different in real time. The only difference is how you feel about it."

$SPX to the 50-day moving average

I mean, the S&P is down a staggering 1.4% in 2 days bloomberg.com/news/articles/…

Weekly $SPX update: not much to report after mixed inflation data and bad economic news out of China. S&P500 down just 0.25% this week.

Weekly $SPX update: the debt downgrade, spike in long-term rates, and mediocre tech earnings all provided good reasons for a much-needed pullback. The 10wk EMA sits just about 1% lower near 4426, but does that gap between the 10wk and 40wk EMA need to shrink a bit?

Traders scooping up the algo sales after ISM services

Weekly view of 30y Treasury futures. Huge move on the long end of the curve this week, looking like it may probe the lows but different momentum vs Oct 2022. #ZB_F

S&P500 keeps motoring higher. Have reached the closing highs from end of March 2022. $SPX

The dollar is getting serious about breaking this important support level. Lots of implications for multiple asset classes. $DXY

Gold trying to reverse downtrend on the daily and bounce from support on the weekly. #GC_F

Glad my tape-fighting days are long behind me.

Wide range on the daily for Russell 2000, one day it looks like it will completely break down, 2 days later wants to make another run at resistance. $RUT $RTY

Weekly $SPX update: a small pullback this week as yields jumped and held after jobs data. Considering what stocks would have done last year in similar circumstances, we'll call it a nothingburger.

Favorite podcasts? Here's some of mine, always looking for new! History: The Rest is History Biz: Odd Lots, Invest Like the Best Culture: Against the Rules, Slow Burn, The Rewatchables Comedy: Fly on the Wall, Always Sunny Podcast Sports: The Move, The Cycling Podcast

Just a coincidence...

Semiconductors look unable to push to new highs right now, showing consolidation as China announces export controls on some key chipmaking metals. Nice to have clean levels to watch for breakout to new highs or a return to 50-day MA. $SOX