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Mptrader Out Front: Wednesday August 25th, 2021 Here is the way the conversation about NLY (Annaly Capital Mgt-- Mortgage REIT) started yesterday afternoon: From mptrader Member Dude:Some lazy summer day could revisit NLY? Thanks. An opinion from Mary on the economic side would be most welcome, too because that dividend looks sooooo sweet... Reply from Member Mary:my quick two cents: Most of the mortgage backed stuff they own is govt guaranteed, nice. Risk is when rates rise/Fed tapers. NLY does a lot of "hedging" for that.
Judging by the RTY context+pattern, we definitely need to watch this sibling closely in the next few weeks.Now, I can start to see that there's potential that it could outperform vs. all the other US indices as we head into Q4+EOYAdditional context: RTY multi-month horizontal bullish consolidation within a multi-year bullish trendI want to see this thing keep sustaining 2200+ to prove its ready again, in order to head back into 2350 and much higher....Here's a weekly RTY chart (9 months worth of consolidation/trapped market participants)Once this thing really breaks out....
Where We've Been: Friday's mood pattern implied an attitude of faith that somehow everything will turn out OK. MMI was up and with some struggle, the market closed up. Where We're Heading:There is a multi-day pattern playing out in the background that completes over the weekend which often goes with abrupt change and somber themes. MMI is nevertheless calculating Monday RTH open as up. MMI for Monday itself is same direction as Monday opens.Sunday and Monday's mood patterns are quite intense with Monday's associated with near term market breakouts or breakdowns.
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