07/01/2023 Weekend Update

[Cobra]

Up 1 week, the next week has 53% chances to close up, 77% chances to make a higher high. So more up.

[te_fern]

Over the weekend, please take a little time to vote for Cobra!, thanks: https://stockcharts.com/public/1684859/ ... /533449377

[te_fern]

Reminder,

- Monday, July 3, is a shortened trading day. Markets will close at 1:00pm EDT, except Fixed Income. FI will close at 2:00pm EDT.

[JFR]

SPY daily.

Positives: Marubozus to the top. Bulls rolling.

EMAs 20 50 100 all up, in the right order.

Bollinger ''river'' up, temporarily flatlined.

Trend up since March, and again since May.

Volume normal in this bounce. --> neutral.

MACD turning back up, as Histogram prepares to cross zero.

Sto on the way up.

Negatives: At the top, needs a breakout. Facing a possible pause or pullback.

MACD and Sto not fully bullish.

Conclusion: Bullish with issues. Maybe too quick a bounce to the top. Resistance time. This trader will treat it as bullish for daytrades and scalps on SPY, ES and the like, not for swing trades.

Just in my opinion.

[Al_Dente]

FEAR & GREED INDEX
80
"Extreme Greed"
https://www.cnn.com/markets/fear-and-greed

[Al_Dente]

[Urban Camel, Fundstrat]

[Al_Dente]

Student loan payments to resume as early as August 29, 2023, per the latest update from the U.S. Department of Education.
The average payment on student loans (roughly 44 million people) runs at about $389 a month.
On the surface, the restarting of payments does not sound like a “big deal,”
IT IS....
Will It Start The Recession?
https://realinvestmentadvice.com/studen ... recession/

[Al_Dente]

6/30/23
JUST IN: Bank of America, BAC, is facing $100 billion in paper losses in bond markets, according to FT [Financial Times].
These losses are reportedly due to interest rate increases, the same reason that SIVB and FRC collapsed.