since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
FYI, I’m out of the officetomorrow
so no Recap untilMonday
. Finally, a gain… [eye roll]. US equities printed a higher close today, snapping a 4-session skid in the S&P 500. The last time we had a 4-day losing streak?March 21
. Wanna’ know when the last 4-session win streak for the bulls occurred? Nov 6th… and before that it was Nov 5th… and before that it was Oct 20th…. In fact, there have been 22 4-day winning streaks for the bulls this year. There were 3 for the bears.Rough year for the bears.
Other than these modestly interesting stats, there’s little to say. Most financial headlines covered the new all-time highs in Bitcoin, hitting $17,000 to $18,000 today (depending on the exchange you reference). Other headlines covered the potential Government shutdown. Markets aren’t concerned. I don’t know if that means investors assume the shutdown will be averted *or
* if they don’t care whether or not a shutdown happens. Your guess is as good as mine.Regardless, capital flow was 104%, which is a nice, usual, and unremarkable level.
We head into nonfarm payrollstomorrow
(195k est & 261k prior). I stick by the prediction that the number won’t shake up the tape. The FOMC hikeon Wednesday
is a fait accompli and that’s all I have to say about that. See youon Monday
, have a great weekend,-Mike
PS: Bitcoin futures begin trading on the CMEon Sunday
….