Afternoon Note
Factory orders slipped 1.6% after increasing 1.7% in December but beating consensus of a decline of 1.8%. A plunge in demand for civilian aircraft caused the drop; however, an increase in machinery and other products indicate that manufacturing could be regaining its footing.

Eight of eleven S&P 500 sectors are higher on the session, with Materials (XLB) stumbling hard. Information Technology (XLK) is at the top of the list, powered by semiconductors, which continue to come on strong. High Beta stocks are faring well once again.

Interestingly, breadth is negative in the NYSE and Nasdaq with more decliners than advancers.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancers |
1,437 |
1,894 |
|
Decliners |
1,547 |
2,395 |
|
New Highs |
79 |
79 |
|
New Lows |
17 |
46 |
|
Up Volume |
1.04 billion |
1.63 billion |
|
Down Volume |
777.6 million |
1.02 billion |
The rally is losing steam as investors eye Powell’s testimony tomorrow.
| Tweet |
| 4/8/2026 12:38 PM | Coiled Spring Market |
| 4/8/2026 9:39 AM | MORE NAMES PARTICIPATING |
| 4/7/2026 1:29 PM | Awaiting The Deadline |
| 4/7/2026 9:41 AM | MORE NAMES PARTICIPATING |
| 4/6/2026 1:38 PM | Muted Signals |
| 4/6/2026 9:36 AM | RESILIENCE AND HOPE |
| 4/2/2026 1:27 PM | Calming Tensions |
| 4/2/2026 9:35 AM | LIFTOFF |
| 4/1/2026 1:45 PM | April Fools: Jokes on the Bears |
| 4/1/2026 9:33 AM | OILING THE SPRINGS |
| 3/31/2026 1:25 PM | Markets Rally on Easing Geopolitical Concerns |
| 3/31/2026 9:34 AM | SHOOTING GALLERY |
| 3/30/2026 1:36 PM | Mixed Monday |
| 3/30/2026 9:37 AM | THE NEXT PHASE |
| 3/27/2026 1:26 PM | Waiting for The Dust to Settle |
| 3/27/2026 9:59 AM | STRESSED & FATIGUED |
| 3/26/2026 1:54 PM | Thursday Dip |
| 3/26/2026 9:42 AM | LOOKING FOR LEADERSHIP |
| 3/25/2026 1:42 PM | Facing Resistance |
| 3/25/2026 9:28 AM | Good Retry |
| 3/24/2026 1:27 PM | Participation Broadens |
| 3/24/2026 9:38 AM | GOOD TRY |
| 3/23/2026 1:20 PM | Market Over Sold |
| 3/23/2026 9:53 AM | OVERSOLD SIGNALS ABOUND |
| 3/20/2026 1:20 PM | From the Strait to the Street |
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