In-line core PCE leaves both bond lines standing as the tape flattens into a five-print evening — Nvidia the referee

The ten lines

1. 1

   LEVEL PCE answers in-line — both bond lines stand

   TLT

   Core PCE printed 0.2% for July against a 0.2% consensus, with the yearly rate steady at 3.3%; the headline ran a tenth hot at 3.7% year-over-year and durable goods came in strong at 1.1% against 0.5% expected. The long bond gave back a fraction on the mix — TLT −0.28% to 83.24, IEF −0.20% to 93.33 — but neither of the lines this morning's Pulse read depends on traded: TLT holds well above the 81.2 band and IEF stays above 93.04. Day one of the contrarian bond read passes on the data it feared most.

2. 2

   PRINT Five prints after the close — the referee's evening

   NVDA

   Nvidia trades −0.83% to 211.29 into tonight's report (consensus revenue $92.27B, EPS $2.09), giving back part of Tuesday's pre-print bid. CrowdStrike recovers +1.17% to 187.54 after leading yesterday's cyber selloff into its own print; Salesforce slips −1.21% to 203.21 defending May's +18.1% payment; Synopsys +0.35% to 410.21 and HP +1.07% round out the slate. Five reports, one evening, every one with a live Print Record card going in.

3. More from Closelooknet Sector RS Monitor Relative strength across the sector board — which rotation is real, pattern-scored nightly. Open sector RS →
4. 3

   THREAD Semis hold the bounce, quietly

   SOXX

   Day two of the trendline bounce is a hold, not an extension: SOXX +0.15% to 514.81, comfortably above the 505 trigger, with SMHX +0.39%, XSD −0.08% and SMH −0.02% clustered around flat. Software still is not participating — IGV sits at −0.04% — so the split this morning's edition carried persists unchanged into the referee's report.