At 4:18 p.m.:

Closing Breadth

S&P 500 Sectors

Nasdaq 100 Heat Map

In a spectacular late-day decline, the S&P 500 Index, Bitcoin, Tesla TSLA, Palantir PLTR and Nvidia NVDA all decline.

From your nattering nabob of negativity, who will see you all bright and early Thursday morning. 

In and out of meetings but it is apparent — as it's been for days — that legs of this bull market die hard. 

I continue to expand my short exposure.

Slight Decline in Breadth

SPY Advances

- NYSE volume 13% below its one-month average;

- Nasdaq volume 18% below its one-month average;

- VIX index: up 0.51% to 17.78

I am adding to my short crypto holdings.

I aggressively shorted the markets rally after the opening.

Upside:

-GWRE +15% (earnings, guidance)

-JFIN +11% (earnings, guidance)

-REVG +11% (earnings, guidance)

-YEXT +11% (earnings, guidance)

-GCO +9.8% (earnings, guidance)

-RDW +9.1% (receives NASA Approval to Advance Cutting-Edge Manufacturing Technology for Building Infrastructure on Moon and Mars)

-LITE +9.0% (raises guidance)

-THO +8.1% (earnings, guidance)

-STM +7.9% (guidance at investor conference)

-HPE +7.2% (earnings, guidance)

-TLS +6.2% (awarded $14M contract with the Defense Information Systems Agency)

-GTLS +5.9% (confirms to merge with Flowserve in $19B all-stock deal)

-FLS +4.6% (confirms $19B all-stock deal with GTLS)

-HQY +3.8% (earnings, guidance)

-COHR +3.1% (higher in sympathy with LITE)

-SNOW +2.7% (UBS Raised SNOW to Buy from Neutral, price target: $265 from $210)

-ANAB +2.6% (announces Positive Rosnilimab Data Updated through Six Months in Robust Phase 2b Trial in RA)

-CXM +2.3% (earnings, guidance)

-ALV +2.1% (affirms guidance; increases dividend and announces share buyback program)

Downside:

-ASAN -12% (earnings, guidance)

-CRWD -7.4% (earnings, guidance)

-MRUS -6.3% (prices 5.26M shares at $57.00/shr)

-DLTR -2.8% (earnings, guidance)

-QBTS -2.7% (files to sell $400M mixed shelf)

-BASE -2.2% (earnings, guidance)

Can America's Broken Airports Be Fixed?

Trump on Truth Social: 

ADP NUMBER OUT!!! “Too Late” Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES! 

Large miss on ADP - futures slip a bit- I added to index shorts throughout the early hours 

Chart from 8:14 a.m. ET:

My laptop is not functioning so my contributions for today will be even more limited than I thought!

Bonus - Here are some links:

Constructive Digestion

Risk Rewarded

The Cleanest Uptrend

A Major Breakout for Minors

Coils and Commodities

With S&P futures +10 handles I have moved to a medium-sized index short.

The S&P Short Range Oscillator stands at -0.19% vs. -1.36%.

I added to my Index shorts at 5:00 a.m.:

* SPY $597.01

* QQQ $528.04

Got up early (3:30 a.m.!) to venture into NYC for several meeetings today.

My posts will be shorter and less frequent today.