Afternoon Note
The news coming from FTX is not over, and the market is worrying it could get much worse. Not long ago, headlines the entire FTX’s legal team quit sent the market to the lows of the session.
Uncertainty in election results is also weighing on the market. The S&P is down 1% with 3,802 and 3,820 zone still key.
Real Estate is the only best performer this afternoon and Energy is the worst performer. We are worried WTI has not broken out and think a deep recession can hurt it. Oil is a darling, but a lot of late bandwagon jumpers do not give us great comfort.
There are more decliners than advancers this afternoon, with overall volume light but very bearish and 378 new lows on the Nasdaq.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
905 |
1,309 |
Decliners |
2.163 |
2,963 |
New Highs |
30 |
66 |
New Lows |
119 |
378 |
Up Volume |
439.5 million |
792.5 million |
Down Volume |
1.79 billion |
1.88 billion |
The market will be turning attention to the CPI report tomorrow. Inflation has been one of the sticking points of the current administration.
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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