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Misc Stock Market

Shooting star weekly candle for the NDX.

Welp. I shouldn't have been talking and the small cap tech weakness was indeed a canary in the coal mine.

Very notable because the Dow posted one a couple months ago and it can't make a higher high since then. In fact it likely just posted a similar weekly rejection to one in June where it was very weak afterward.
 
The Russell 2000 could be up or down 1.2% at 8:30 tomorrow morning in premarket and neither would surprise me.

Reason I mention them is they're probably of most interest right now. If this index doesn't bounce like...soon, there's not much resistance underneath and the easiest path would be for it to roll over and likely take everything with them, a lot like how the Nasdaq took everything with them last fall, only it took a lot longer (months) to transpire this time.

Frankly surprised it's held up for as long as it has too. In March it went down over 9% as fast as it went up that much and hasn't done anything since.
 
If TNX being crushed this badly isn’t another bond short margin call in Europe, the small caps are likely already unsaveable this time.
 
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