Transports Are Crashing Without Breaking News

May 28, 2024

Mish's Daily

By 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.

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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Mish in the Media-Want to see more?
All clips here

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 and Transportation 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

June 13th MoneyShow Virtual Expo -Topic Stagflation Survival Guide: Building Wealth Amid Economic Challenges

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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