The reading now? Promising solid BULL but VULNERABLE to short-term pullback. Watch those first 2 panes – they are weakening and that’s the pullback warning. Panes below show FINANCIALS, INDUSTRIALS, CONSUMER, UTILITIES and REAL ESTATE have rolled over (XOA counts < 3) and eventually may overwhelm the TECH drive. But the MACRO NNHI (net new hi) COUNT is firmly in the longer term bull camp. His reading is that pullbacks are a buying opportunity for now.
Archive | August 21, 2026
MIB Daily: Not a Rate-Cut Rally but a Growth One, PMI 56.0 With the 2Y Charging 4.7bps, Gold $4,672 and Bitcoin $77,522 Bid on a Flat Dollar, Utilities -1.97% Into Warsh in Seven Days
Flash PMI shocked at 56.0, a 52-month high, putting Q3 growth near 3%: cyclicals bought it, the two-year charged for it. US-Canada talks collapsed; 50% duties hit $20B of Canadian goods at midnight. Gold cleared $4,672 and Bitcoin ran 6.69% to $77,522 with the dollar flat and yields higher. Tesla +5.14% on Nevada’s first paid robotaxi permits; Marvell -5.56% despite a 38% target raise. Fourteen Walmart cuts, eight Ross raises, same session. Oil rigs fell a third straight week.
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