Labor Day is around the corner but we’re not there yet. The headliners this week are Nvidia earnings after the close tomorrow and a Friday morning speech from Fed Chair Kevin Warsh at the annual Jackson Hole Symposium. Either one or both could potentially set off some fireworks.
In the meantime, yesterday was a generally soft day for US equities and the VIX Mix dropped seven points. The bullish/bearish count didn’t move much with a 9/3 mix versus 10/3 on Friday.
Recent readings have been very much in sync with SPX. Sentiment for both has waned a bit since the most recent ATH on August 13th.
Gotta run off to a meeting, so I’m just gonna leave these next two charts for you to ponder. Maybe I’ll revisit them in tomorrow’s post or out on X later today. For now, let’s just say that I see that I think they can be useful.
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