tsptalk's Market Talk

[nasa1974]

After an initial negative reaction in the overnight futures, stocks opened higher on Monday morning and have maintained those gains. Of course the US military action and the possible counter-reaction left investors concerned about the global market reaction, but as I wrote about in today's commentary, these knee-jerk reactions in stocks are usually temporary as the market is heading in a direction and news, unless it changes the economic or monetary policy, are just distractions along the way.

The action in stocks has been bullish despite the month long consolidation.

Oil is down this morning despite Iran's threat to block the Strait of Hormuz and disrupt the supply lanes.

Gold and bitcoin are up, although bitcoin was down sharply over the weekend and had to to struggle just to get back over 100K.

The dollar popped above the 50-day EMA temporarily, but has settled back below that resistance for now.

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I'm a little surprised. My individual stocks are all red. Great for my retirement 401K. Still a little over four hours before the market closes. Sticky pants on.

 

[tsptalk]

Fed watch:

The 10-year has fallen below the channel again.



Plus, the 2-year yield is the Fed's target generally, and it is currently 3.84%. Fed's Fund rate is still 4.25% - 4.5%.