It’s like all this guessing about when the next recession will be. Why bother. It’s a joke. We don’t know when the next recession will be and neither do that. We don’t know when and where the top will be either. We can guess, but what’s the point. Trade the charts. They have been overwhelmingly flashing buy signals all year, and more so lately.
Even when I get a few picks on the short side, they don’t work, or only a handful work. Meanwhile, the bulk of the signals remain on the buy side. And they’ve been working. June was the best month I’ve had for swing trade picks.
I got off to a very rough start in July, but that has completely turned around over the past 10 days. We’re off the the races. The beginning of the month was just the dealers shaking the trees and loading up.
RIght now, I’m on a train between Luebeck and Schwerin Germany. I really liked Luebeck. Must return some day. In fact, I’m feeling very much at home in Germany. I like the country. I keep seeing my name everywhere.
Meanwhile, on the hourly chart of the ES 24 hour S&P futures, we’re due for a 3 day cycle high here, but only a half day pullback. The 5 day cycle is still pointing toward a projection of 4575-4590. And being so close to 4600, the magnetic action of round numbers could come into play. That would all ideally be due on Friday.
Meanwhile, I need to change trains in a few minutes. I’ll be back.
For moron the markets, see:
- Swing Picks Following Gold’s Yellow Brick RoadJuly 18, 2023
- Finally, A Few ShortsJuly 17, 2023
- Young Bull Growing Stronger July 17, 2023
- We’re Not There Yet July 16, 2023
- Stocks Are Scraping the Ceiling July 9, 2023
- Withholding Tax Rebound Sets Up a Bearish Fed Catch 22 July 6, 2023
- Golden 13 Week Cycle Turn and Other Hopeful Signs 7/5/23 July 5, 2023
- It’s Not Your Daddy’s Liquidity Anymore July 5, 2023
- We Now Know What is Driving the Rally June 20, 2023
- The Fed’s Slush Fund is Working June 16, 2023
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