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TMTB EOD Wrap

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TMT Breakout
Aug 15, 2024
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Another strong day for the QQQs +2.5% after better macro data + wmt results + positive fed speak (Bostic and Musalem both signaling rate could at Sept meeting, likely reiiterated by Powell next week at Jackson Hole) now only down 5% from the highs - what a comeback. SOX /ARKK +5% led the way higher while IWM +2.5% finished inline. BTC -4%. Treasuries saw selling pressure following the strong retail sales and weekly claims reports, with yields rising 5-14bp. Let’s get to it

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