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Discussion in 'Stock Market Today' started by bigbear0083, Jul 21, 2023.
Yeah, and wheat got kicked in the teeth
FOMC: Fed hikes FFR by 25bps to 5.25-5.50%; no changes to July FOMC statement vs June 14th
You can watch Mr. Transitory here ( if anyone on the planet actually wants to hear him ramble on):
Remember in the early 80's when home loan interest rates were in the 10-11%...I think that's where Mr. Transitory wants us to head.
Nice to see you posting @OldFart Let's see if the DOW can extend its winning streak once again, as of now looks like it will be a close call
looks like the Mr. Transitory pop got sold off on /ES @stock1234
haha love it! totally getting the HSM vibes going which i missed greatly.
also, i'll have to double check on this stat but pretty sure this would tie the all-time record long streak from back in 1987. like you alluded to yesterday, the dj30 is the least monitored major index from market veterans like us lol, but for the average person who isn't watching the market daily or has very little to no experience would look at that index the most. still is a pretty impressive streak no matter how you slice it.
looks like it could be another nail-biter to the finish line like friday was. think it closed like +0.01% on friday to keep the streak alive
FTC readies lawsuit that could break up Amazon - POLITICO
barring a massive flush in these last minutes it looks like it's gonna happen. pretty cool to be witnessing history for an index that has been around for so many doggone years lol
1987....Also, that's the big market crash -> Black Monday
LOL will it happen again this year
I guess we're selling the news today
Lot of volatility today...crazy.
Caught some small moves...not enough to make it worth my while.
sorry guys! getting a suuuuper late start to my day here. 'twas a busy ass morning for me lol.
Top of the afternoon StonkForumers! Happy Thursday to all of you and welcome to the new trading day and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little over 2 hours away from the US cash market close.
GLTA on this Thursday, July the 27th, 2023!
Morning Lineup - 7/27/23 - Data Dump
Thu, Jul 27, 2023
After one of the most subdued reactions to a Fed decision in memory, today is not only one of, if not, the busiest days of earnings season, but there's also a ton of economic data hitting the tape as we send this out. Given the volume of reports, you would think that there would be something to worry about in the data, but jobless claims were lower than expected, GDP was better than expected, Durable Goods were better than expected, and the inflation data (GDP Price Index and Core PCE) were all weaker than expected. Not a bad showing!
One thing they have already started to worry a little more about this week is the fact that most of them are bullish. After individual investor sentiment, as measured by AAII topped 50% for the first time in over two years last week, it headed south again this week falling down to 44.9%. That's despite the Dow rising every single day since the last survey was taken!
We’ve talked a decent amount in the last few weeks about the extraordinarily narrow trading range that Bitcoin has traded in recently. This week, it has started to drift out of that range to the downside, and while it hasn’t been a dramatic move, the 50-day moving average is back into play. After testing that level in each of the last three trading days, Bitcoin has successfully tested that level, and today it has managed to stay above that level for now. There’s still a decent amount of time left in the day, so we’ll see if it holds, but for now, Bitcoin’s uptrend remains intact. If the 50-DMA fails to hold, though, the pace of selling could accelerate.
Bitcoin’s 'little brother', Ethereum, has been extremely quiet lately. Outside of a brief downdraft and recovery in June, its price has essentially done nothing. Extreme volatility is a way of life for speculators in crypto, but lately, the sector has had as much excitement as a movie on the Hallmark channel.
Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Thursday, July 27th, 2023.
10 year yields back above of 4%, putting pressure on stocks here
Well looks like the winning streak for the DOW is ending today, it was still a pretty impressive run
phew! well that sure was an update. sorry for all of those thread bumps/updates this afternoon guys. just wanted to get those done as i likely won't be around much tomorrow.
also, there seems to be some conflicting data where one guy has it that yesterday tied the record long winning streak in the dj30 at 13 from 1987, while another one source has it at 14 from 1897 lol.
nevertheless as @stock1234 touched on, it was an impressive winning streak and i'm glad to have witnessed it, despite that i'm a bear at heart
can you image if that was the reverse? a 13 day losing streak? not sure what the headlines would read then
Talking heads would just say it's a buying opportunity