We opened up with a spark—but that quickly fizzled into low-volume chop. Typical summer tape. But there’s still money to be made… if you’re trading with the flow, not against it.
Here’s what I saw this morning:
Key Takeaways
Major rotation happening—watch the leadership shift
- Energy and financials showed life while tech paused for breath.
- This kind of sector churn tells you big money is rotating… not leaving, just moving.
Retail names were weak out of the gate
- The XRT got hit early—big box stores and consumer discretionary dragging.
- That could be tied to recent credit data, which is showing some cracks in spending.
Bonds caught a bid
- TLT firmed up, signaling some hedging or risk-off posturing under the surface.
- Don’t ignore this—it often leads equities by a session or two.
What I’m Watching
Tomorrow’s CPI print is the elephant in the room. The bond move today hints that someone’s expecting a miss—or at least a softer read. If we get that, expect a violent reaction in the dollar and yields… and you better believe risk assets will jump on that. But if it comes in hot? Buckle up.
Markets don’t sleep—but they do send signals. Learn to listen and you’ll stay a step ahead.
Until next time,
Garrett Baldwin
TheoTRADE
