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te_fern wrote:It would help the levered Financials to break this line!
Indeed. And it would help SPX/DJIA/Value-indexes etc. if they would.
Steady lift from a rotation into banks and value, some money rotating in as it flees bonds... perhaps the market can correct over the summer by sideways drift...
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WARNING
Predatory algos flash crashed silver… futures were halted last night
No problem… just a “glitch”
“If a group of competing algos were stop hunting during thinly traded markets as they commonly do, then it is conceivable that their races to sell- trigger stops-cover (rinse repeat) could have created a snowball effect of self reinforcing momentum.”
“nanosecond deluge of selling”
“this type of increasing activity is undermining the integrity of its markets” http://www.zerohedge.com/news/2017-07-0 ... kg-comment
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Actually FAS/XLF both pulled back from intraday highs, and are forming a doji and an inside day, all within the range of the first day of the week. So no strong clue as to next week can be sought from this sector.