Early Pop → Late Flop – Yields Steal The Show Again

Market Overview - The Nasdaq started positively but the Dow and S&P struggled to gain momentum, ultimately closing in the red as tech stocks reversed early gains and bond yields increased significantly [1][3] - Despite a solid performance last week with the S&P and Nasdaq experiencing four-day streaks, Friday's soft PCE print is now seen as outdated [2] Company Highlights - Broadcom's stock rose by 2% to a new record following reports of Microsoft discussing custom chip production with them [2] - Confluent's shares surged by 28% after IBM announced its intention to acquire the company for $11 billion, with the deal expected to close in mid-2026 [2] Investment Sentiment - The anticipated "rate-cut relief rally" appears to be losing strength as bond yields rise again, creating uncertainty in the market [3][6] - Bitcoin showed resilience amidst the market downturn, managing to close slightly positive while other risk assets declined [3][6] Trend Tracking Indexes (TTIs) - The Domestic TTI closed at +5.78% above its moving average, while the International TTI was at +9.14% above its moving average, both indicating ongoing bullish signals [8]