#sp500futuresfall
- Long Bond Taking Down Stocks
S&P 500 futures are extending Monday’s decline as the combination of higher oil prices and rising long-term interest rates triggered profit taking on Monday and overnight. The S&P 500 lost 0.5% yesterday, with weakness extending beyond technology into consumer and financial shares, while semiconductors provided relative strength. That support faded overnight on lower tech shares in Asia. S&P 500 futures for September are down another 0.5%, while Nasdaq 100 futures have fallen 1.29%. The challenge is clear. Higher diesel prices threaten consumer prices, purchasing power, and inflation progress, while the long-end Treasury selloff raises the discount rate applied to growth stocks. The rise in long yields is occurring as expectations for near-term Fed tightening have firmed overnight. Today’s ADP employment update, housing starts, and industrial production will test whether slowing growth can eventually offset that pressure.
Technically, September S&P 500 futures broke below the 5D MA near 7,779 and is testing rising trend support around 7,725. Hourly RSI near 20 signals an increasingly stretched short-term decline, but oversold momentum alone does not reverse the trend. A recovery above 7,779 would stabilize the setup. Market Ideas: Force into the market, we are a buyer of dips, staring with the 18D MA at 7,653, and then the into the 50D MA at 7,563 ... 3/4$SPX $MUUB $JST
- Long Bond Taking Down Stocks
S&P 500 futures are extending Monday’s decline as the combination of higher oil prices and rising long-term interest rates triggered profit taking on Monday and overnight. The S&P 500 lost 0.5% yesterday, with weakness extending beyond technology into consumer and financial shares, while semiconductors provided relative strength. That support faded overnight on lower tech shares in Asia. S&P 500 futures for September are down another 0.5%, while Nasdaq 100 futures have fallen 1.29%. The challenge is clear. Higher diesel prices threaten consumer prices, purchasing power, and inflation progress, while the long-end Treasury selloff raises the discount rate applied to growth stocks. The rise in long yields is occurring as expectations for near-term Fed tightening have firmed overnight. Today’s ADP employment update, housing starts, and industrial production will test whether slowing growth can eventually offset that pressure.
Technically, September S&P 500 futures broke below the 5D MA near 7,779 and is testing rising trend support around 7,725. Hourly RSI near 20 signals an increasingly stretched short-term decline, but oversold momentum alone does not reverse the trend. A recovery above 7,779 would stabilize the setup. Market Ideas: Force into the market, we are a buyer of dips, staring with the 18D MA at 7,653, and then the into the 50D MA at 7,563 ... 3/4$SPX $MUUB $JST
