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Monday Quarterbacking the Economic Modern Family

July 29, 2024

Mish's Daily

By Mish Schneider

Over the weekend we had a lot to say about our Family.

“If IWM takes out the 227 level, we see no reason why the rally should not continue.”
“Sister Semiconductors SMH, after a huge bearish move the week prior, followed through with more downside this past week.”
“Regional Banks KRE or our Prodigal Son, has had 3 spectacular weeks in a row. With KRE we still do not know if this is a massive technical bear market rally or a new bull market.”
“XRT held the weekly channel low. Granny, with all the doom and gloom, closed the week up. Are there headwinds? Sure.”
“IBB looks well on its way to 160 area.”
“If IYT joins in the rally, it will most likely infer a sea change coming for the Fed as well.”
“Let us not forget that the long bonds TLT have their own look of a squeeze coming.”

A lot of “ifs.”

So, it is any big surprise that the week begins with all the Family thus far, trading inside last week’s trading range?

All but Retail XRT. But XRT only garnered a rally early in the day and settled within last week’s range.

We got some waiting and wading to do given earnings, FOMC and jobs report all happening.

Hence the best way to explain what we believe is the best course of action is to have a listen to Mish’s interview on Benzinga’s Prep Show early Monday morning.
You will hear about the Family, long bonds, and the discussion on a couple of picks!

Check out the chat box-very nice indeed!

Educational purposes only, not official trading advice.

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
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