Mish’s Daily: Transports Are Crashing Without Breaking News
Mish’s Daily: Transports Are Crashing Without Breaking News
Written by Michele ‘Mish’ Schneider
Once again, while semiconductors roared to new highs, Transportation as seen through IYT the ETF, sold off.
Retail XRT closed marginally green after better than expected consumer confidence data.
Regional Banks fell closer to the critical levels of support.
Biotech had a bad day as well.
And Bitcoin is also back testing criticial support.
This is leaving a very bad taste in the mouth of astute investors.
However, it is also proving that stagflation, currently a grossly underused word, is becoming ever more present.
Wheat is just the latest example of a commodity making a move up in the face of geopolitics and weather.
This is with gold, silver, copper, natural gas, oil and uranium all closing green.
To hear more about this, check out the media links below-both Friday’s Real Vision interview and the interview Mish did with Charles Payne on Making Money with Charles Payne Fox Business speak more about the oncoming inflation storm. Educational purposes only, not official trading advice.
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Mish in the Media
Making Money with Charles Payne Mish talks with Charles on warning signs and yet picks to watch 05-28-24
Real Vision The Daily Briefing Without commercials 05-24-24
CNA Asia First Mish covers Ethereum, Nvidia andTransportation 05-24-24
Phoenix TV China Mish talks about China accumulating gold and why 05-23-24
Singapore Radio What to expect from Nvidia earnings and the trouble with transportation 05-20-24
Business First AM The Sky High Club is missing Granddad Russell 2000 05-20-24
Kitco News Team Stagflation fears to drive gold and silver higher 05-17-24
CNBC Street Signs Singapore Mish talks about the opportunities and pitfalls in equities 05-17-24
BNN Bloomberg Momentum, Warning Signs and Commodities Thoughts 05-16-24
Final Bar with Dave Keller Mish and Dave discuss commodities, the move to all time highs in indices and a tariff pick 05-14-23
Making Money With Charles Payne Mish and Charles discuss transportation index and Fed policy mistakes-plus a few picks 05-09-24
Coming Up:
May 28 Making Money with Charles Payne
May 29 Coast to Coast Neil Cavuto
June 4 StockchartsTV
Weekly: Business First AM, CMC Markets, stockpick.app
ETF Summary
S&P 500 (SPY) 529 pivotal support
Russell 2000 (IWM) 210.80 ATHs resistance 200 support
Dow (DIA) From 40k to breaking the 50-DMA
Nasdaq (QQQ) Watching 455 level
Regional banks (KRE) Watching the range
Semiconductors (SMH) 240 pivotal
Transportation (IYT) distribution phase yet getting oversold
Biotechnology (IBB) 135 now pivotal
Retail (XRT) Confirmed with a second close above the 50-DMA
iShares iBoxx Hi Yd Cor Bond ETF (HYG) Broke under 77-another warning sign.
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