Into the final hour of trading, stocks continue to probe the highs as animal spirits in the likes of Standard Register (SR) rage on. To be sure, participation is relatively narrow considering what the major averages are doing, which compels me to be quite selective.
As @RaginCajun pointed out, bonds got whacked this afternoon. The first chart is the TLT monthly showing that head and shoulders top still forcefully confirming lower (as rate goes higher), August is usually a great month for bonds, so it will be interesting to see if this year breaks from that trend.
Also, gold and silver are basically in holding patterns still, as you can see on the second chart below. I am still looking for the next big break either way to catch another quick trade in that space.
Into the bell, I am still stalking adds in my dollar store longs, and am not adding to shorts here yet.
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awesome, throwback Nitro Circus pic
Haha yup