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Transcripts For BLOOMBERG Whatd You Miss 20240712

Taylor even though we mentioned a little bit of a pullback today, the take a look at this chart i am showing inside my terminal. S phe top, the percent of 500 members trading above the average. The highest on record. At the bottom of the screen, the percent with rsi over 70. The highest since 1991. The general tone continues to be a slow grind higher. 500 toive inside the s p some individual movers. Macys has opened 450 stores, but that is not enough to give investors optimism. Suspendedy company their dividends and said they will not reopen at least 150 of their stores. We move up into some of the luxury names. Sales off 52 . They will keep north American Stores shut until july 15. Along with jp morgan, the financials mentioned earlier, selling pressure today, facinglarly the consumer banks. Short positions are back. This is data as of last week. Futures seeing the biggest net short positions since 2015. This is interesting because last week, the put to call ratio was the lowest ever.

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