Podcast EP 34 "Always two there are" (Aug 22)

“Always two there are, no more no less. A master and an apprentice.” - Master YodaPodcast Available onSpotify | Apple Podcast | Amazon MusicFollow on Substack NotesReferral Program for existing Subscribers* When you use the “Refer a friend” link below or the “Share” button on any post, you’ll get credit for any new subscribers. Here is the link you can copy and paste into any email, text or social media platform:“https://nyugrad.substack.com?r=1ec55c”* Once I launch a paywall, your referral credits earned will be retroactive immediatelyShow NotesI start with Yoda’s quote because there are two big forces fighting each other the past few sessions. * Higher Yields and 7.5% 30 year mortgages* Risk assets in stocks and the fact fewer and fewer names are holding up the world $NVDA and $TSLA for exampleBreadth* 75 New highs* 329 New Lows* 36% Adv / 58% Dec* % under 50 day maUp big pre-market* ES almost got back to test 4444 level overnight Monday into Tuesday* But the ES and Nasdaq sold off at opening bellWhy do I keep hammering that you should watch breadth? Breadth was weak all morning. And 11:35am indices gave up after sideways action2pm update3pm rally attempt. Breath volume seemed weak vs Mondays close. I suspected a selloff.3:30pmRally attempt was a dudStrongIt was a deceptive sell off day when you compare magnificent 7, vs indices complexion vs breadth. WeakSee above. bull should be weary of worsening breadth. 70% of shares are under the 50 day ma. (nyse / amex / nasdaq)What to watchNVDA reports after close WedFed speakers Thu morningJerome Powell Fri 10:05amThanks for reading NYUGrad Stocks and Finance! Subscribe for free to receive new posts and support my work. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.notyouradvisor.com/subscribe