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Market Today in Last Leg 9/6/24

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That's right stocks fans! I'm on the last leg of my summer trip heading home. I will be back at my desk full time on Sunday evening. 

Meanwhile, here's the hourly futures chart of the S& P 500 looks for today. So far it is following the probability that hourly cycles had favored for a breakdown from the range rather than an upside breakout. 

But alas there has been no follow through. And the pattern could turn bullish if the market rallies past yesterday's double bottom.Screenshot_20240906-140346.png

 

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Recently, the narrative used to explain or excuse the recent performance of US stocks and bonds is that the US economy is slowing. The crystal ball gazers are seeing something that just isn’t there in the real time data. If anything, the economy has started running hot again. Whether it undergoes a normal short-term economic pause here, or breaks out into runaway growth, remains to be seen. But there’s no sign of any material slowing in real time tax collections data. Non-subscribers, click here for the rest of the story.

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KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! 

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