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Splat 8/5/22

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Well, don’t say I didn’t warn. Withholding Tax Collections Solid in July, But Here’s Why the Party is Over

And we have a rather pointed reaction, as shown in the hourly ES, S&P 500 continuous 24 hour fuguetures. They’ve broken the latest iteration of the green on green on green channels, but beware. They merely need to get back to 4137 to inertiate that. Like that word? It’s new. I couldn’t think of the word I wanted, and that’s what came out.

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And if it doesn’t reverse, then the next target will be that all important sport level of 4078. Break that, and Houston, we have a problem.

Meanwhile, the 10 year Treasury yield is strangely quiet. I don’t think it will be for much longer.

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