Today had all the feels of a Monday as we all prepare for the unofficial close of summer next Monday (Labor Day). Volumes remain muted across the board with the S&P 500 volumes down 25% vs 20d mavg. Both the Nasdaq and S&P 500 closed lower on what looks like some profit taking heading into Nvidia earnings. This does not seem surprising, especially given that the S&P was up nearly 2% on the month and within 1% of the all-time highs (next resistance level 5667). Rates remained relatively steady t…
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