Momentum Slowing, Divergences Growing: What Does This Mean For The Markets?

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Tonight's video delves into a comprehensive analysis of the financial markets, emphasizing the slowing momentum and building divergences. It begins by highlighting the release of the producer price inflation data, which surprisingly came in hotter than expected. Despite this revelation, the markets showcased a relatively flat performance. The volatility index (VIX) and the various sectors within the S&P 500 are discussed, shedding light on their recent movements. The narrative then shifts to the 10-year yield, which has been moving within a defined channel, and the TLT (a bond ETF) that has been navigating against declining moving averages. An intriguing aspect of the script is its focus on the divergences observed in the market. These divergences, especially between high yield and equity markets as well as between copper and the S&P 500, are flagged as potential warning signs. The movement of the dollar is also explored, emphasizing its correlation with the S&P 500. Other assets, including oil, gold, Bitcoin, and Ethereum, are touched upon, providing insights into their recent trajectories and the factors influencing them. Delving deeper into technical analysis, the script underscores the nuances of candlestick charting, particularly the diminishing momentum evident from the decreasing body sizes of consecutive green candles. The significance of expected move levels and potential resistance points in the market are also highlighted. Concluding the analysis, the script offers a short-term outlook for the markets, stressing the importance of the impending inflation data and its potential ramifications on market movements.

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