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07/22/2017 Weekend Update

07/22/2017 Weekend Update

Postby Cobra » Fri Jul 21, 2017 4:10 pm

Just to start a new thread for the weekend chat. The market is trying to find all the possible excuses to go up and refuse to drop so when no excuses, it just goes nowhere.

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Re: 07/22/2017 Weekend Update

Postby Cobra » Fri Jul 21, 2017 4:11 pm

please don't forget our weekly sentiment poll here: viewtopic.php?f=9&t=2545

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Re: 07/22/2017 Weekend Update

Postby Cobra » Fri Jul 21, 2017 4:16 pm

No stock picks for the next week. here's the latest strong stock counts. I think it's ridiculous.
viewtopic.php?f=10&t=2547

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Re: 07/22/2017 Weekend Update

Postby tsf » Fri Jul 21, 2017 10:32 pm

Source: Thomas N. Bulkowski
This could be a 2B pattern, where price in an uptrend sets a new high but fails to continue higher.
A retrace follows.
To me, that's what it looks like will happen.
http://thepatternsite.com/Blog.html#P24
http://thepatternsite.com/2B.html

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Re: 07/22/2017 Weekend Update

Postby TraderJoe » Sat Jul 22, 2017 1:44 am

Record S&P 500 Failing to Stem Steadiest Fund Outflow Since 2009

Even as the S&P 500 Index clawed its way to a fresh record and squeezed out a third consecutive weekly gain, signs of fading enthusiasm in U.S. stocks have become increasingly difficult to ignore.

The latest can be seen in the SPDR S&P 500 Trust, the biggest exchange-traded fund tracking the U.S. equity benchmark. As of Thursday, investors had pulled $3.8 billion out of it in July. That puts the fund on pace for a fourth consecutive monthly outflow, which would be the longest streak since the start of the bull rally in 2009.
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Re: 07/22/2017 Weekend Update

Postby te_fern » Sat Jul 22, 2017 8:07 pm

Did we have the pull-back and now we are going back to the high??
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Re: 07/22/2017 Weekend Update

Postby TraderJoe » Sun Jul 23, 2017 12:15 am

The dollar has imploded and the rate of decline is accelerating. The dollar index closed at a new 12-month low on Friday at 93.85. The Dollar Index has declined -6.4% this year. Against the euro, the dollar has fallen more than 10% and more than 15% against the peso. This is going to be a boon to companies that do business internationally and should boost earnings over the next few quarters.

August has not been kind to the market. Over the last 20 years the average August decline is -1.2%. That may not seem like much but there have been some dramatic declines that were offset by a few good years.

August 1990 - Kuwait invasion
August 1997 - Asian debt crisis
August 1998 - Russian debt default
August 2011 - U.S. debt ceiling, loss of AAA credit rating
August 2015 - China devaluation concerns

Those events caused declines of 5% to 15%. However, even in normal years, August is not kind. There are multiple reasons given by various analysts. The most common is that summer is fading, parents are getting kids ready to go back to school and they are trying to cram some late summer vacations in before that school bell rings. Volume is low as is interest in trading. Since Aug/Sep are the worst months of the year for the market, Sep/Oct are seen as the best months of the year to buy the dip.

October is known as the "bear killer" month because so many bear markets end with a low in early October and the dips are bought ahead of the best six months of the year strategy. November-1st to May-1st are the best six months of the year so everyone wants to be long when November arrives.
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Re: 07/22/2017 Weekend Update

Postby TraderJoe » Sun Jul 23, 2017 12:16 am

Google is in the mosquito raising business. The Verily business unit deals with health care issues and one of their recent accomplishments is mosquito breeding. Why do we want to breed millions of mosquitoes a week? In order to wipe out the population. The mosquitoes Google breeds are then infected with the Wolbachia bacteria. This prevents any reproduction activity from being successful. The males go from female to female performing their function but the resulting eggs do not hatch.

The idea is to keep mosquitoes from transmitting Zika, Yellow Fever, Malaria and other diseases. More people are killed every year by mosquitoes than any other animal or insect.

Google has perfected a way for robots to raise millions of mosquitoes a week and sort them by male and female. Only the female of the species actually bite. The males are harmless to humans and are the only mosquitoes released. They are sorted by computer with a picture taken of each mosquito to determine its sex. The project is called MosquitoMate and Debug Fresno.

Google is aiming on reducing the mosquito population by 90%. People ask why not 100%? Because we do not know if the mosquitoes have a yet undiscovered positive impact on humans, animals, etc. Who knew Google was a mosquito breeder?
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