[Almanac]
“…Long story, short, the elusive “Summer Rally” is the weakest seasonal rally of them all….”
“…So, if the market does not get excited about something soon, we may be looking at a summer selloff that is a bit deeper than usual.” http://jeffhirsch.tumblr.com/post/16315 ... mmer-rally
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Now that we are on our own trading wise that first try at a breakout looks kind of ugly, as in miniature twin towers bars. Maybe second time will be the charm, if it happens. Small caps not doing any better, sort of an anemic low energy version of the S&P since the european close.
Second try looks better, but still can't climb past 2467. I have several buy signals but price and indicators are really anemic. It kind of looks like a big old roiunding topping process rather than a move to higher highs. Maybe my mind is poisoned by the Atlanta Fed's model.
Kuroda San is expected to start slowing down the printing along with the rest of those CB's. When Yellen said normalize we had a good dip. Of course we had a good gap and go when she backed it down.
Anyone here think that India- China standoff at their boarders will escalate into a full war? If that happens, will be a real kicker for Global economy...you talking approx 1 trillion trade at risk...wooooooo..I am sure this war can create more panic than anything after 9/11
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Market is actually clawing it's way higher on a slow drift. Some saying it is piggy backing on WTI and gasoline which had a positive estimated inventory report. Like I said this weekend, it is a dangerous time to be short oil when the inventory reports come out. Refiners still running at full throttle and the Saudi's are draining their storage cutting off shipments to the US. Good timing for them, as they need their own crude to power air conditioning and they are having problems with the water injection at one of their major (and mature) fields.
As you can see the real test comes in late September/October. Another one of John Kemps charts-
As indeed it was. A timely observation, especially when made around 10am-- since SPY and IWM have not come close to testing their 15min 20ema today, and QQQ has only once barely kissed it. All these EMAs have been strongly upslope.
Seasonally, the worst two days of this Opex week tend to be tomorrow and Friday, per Stock Traders Almanac.
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