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Show Notes

Summary of the day

Where do I begin?

* Megacaps Mag 7 rallied hard

* Meanwhile yields also rallied from Thursday selloff

* Breadth still produced more new lows

* It’s end of year and everyone is racing to max their bonuses

* Put Options are cheap!

And then at 4:36pm after trading has closed, Moody’s downgrades America! Leaving all the buyers this week holding the bag.

They waited as long as they could with that headline/downgrade. It will be interesting to see what happens to the USD and currencies on Sunday.

Hey maybe this downgrade goes overlooked thanks to seasonality. Or… The USD cracks down on the downgrade along with bond prices. Thus sending yields up and risk down.

Breadth

* 189 new highs

* 488 new lows (2.5x!)

* 67% advancing 27% declining

* 57% below 50 day ma

* 67% below the 200 day ma

Stuck out

Yields fought back all day while everything was rallying

Strong

Tech outperformance

MSFT is in Dow, nasdaq and s&p. Was up big. Atlas shrugged

Weak

GM and anything EV car related

AFRM

KRUS

VFS

CVNA

What to watch

Tue CPI pre market

Wed VIX expiry

Fri options expiry

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar 

Financial Freedom is not free, but the pursuit is worth the treasure.