The S+P 500 broke decisively
to the downside at this mornings Open.
The decline was lead by S+P 500 Sept Futures trading (ESU23
breaking down off "multi week" resistance lines" near 4487.50
Large block selling, appeared
after the"jolts" job number for June came in twice a hot as expected.
That's a big increase in jobs, that in turn will continue
to put pressure on future inflationary expectations,
as money is being poured into new business opportunities.
The economy continues to grow strongly, despite skeptics believing a recession is near.
Nothing is ever what it seems.
Bond prices crumbled this morning as well,
with the 1 Year Treasury Bill now nearing 5.50 %
with futures markets now pricing in 90 % certainty,
of yet "another" .25 % point increase in interest rates at the Fed's next meeting in late July.
SPX 10 AM OPEN 4399.25
THE_UNWIND
WOODS OF CONNECTICUT
to the downside at this mornings Open.
The decline was lead by S+P 500 Sept Futures trading (ESU23
breaking down off "multi week" resistance lines" near 4487.50
Large block selling, appeared
after the"jolts" job number for June came in twice a hot as expected.
That's a big increase in jobs, that in turn will continue
to put pressure on future inflationary expectations,
as money is being poured into new business opportunities.
The economy continues to grow strongly, despite skeptics believing a recession is near.
Nothing is ever what it seems.
Bond prices crumbled this morning as well,
with the 1 Year Treasury Bill now nearing 5.50 %
with futures markets now pricing in 90 % certainty,
of yet "another" .25 % point increase in interest rates at the Fed's next meeting in late July.
SPX 10 AM OPEN 4399.25
THE_UNWIND
WOODS OF CONNECTICUT