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Economic Indicators Released Overnight
Not much economic news after the tsunami on Friday. Today supposedly holds US PPI and ADP.
Risk assets rallied as market looks (again) for interest rates cuts at the FOMC on 10 December.
US Equities
Japan can actively intervene to prop up yen, says govt panel member Aida [investing.com]
How the U.S. Economy Became Hooked on AI Spending [Wall St Journal]
Finally price gets the chance to recover after weeks of taking a beating. It could be short-lived but some of the issues have faded. Whales moving to Zcash for one. Read more
That downtrend goes back to August 2011. Price now hugging it means we’re in for a definitive break. There are at least 5 failed breaks to the upside. Read more
S&P bounced nicely yesterday from the 6,550 pivot which now looks to be strong support. Market only gave back 5% in price, which is nothing. Read more
10 year yield could drop back to the scene of the crime at 3.98% before the FOMC puts a floor on yields by cutting rates. The structural floor is at 3.77% where the 15 year uptrend kicks in. Read more
US 10 Year Government Bond Yield Daily