The ES was weak overnight. Fool me once etc. Don’t even start to think about the downside unless they take out ES 3185.
There are dangers everywhere. And opportunities. This report lists a few, with clear action parameters.
The Fed doesn’t know what it will do until it does it, neither does the market. And it’s likely to take the market longer to figure it out than it takes us, if we’re paying attention. Which we are.
Here’s what we know and what to do about it.
Yes, it looks bullish again. Although last night toward the close in New York when it looked like it would launch it stalled, and it’s still in that same range. So the fuel doesn’t seem to be there for follow through. Let’s see what happens this morning. A failure to get through 3212 on the ES would give the bears the ball.
For now, the indicators say a move up is likely with targets of 3220-3230. Not a big deal.
My apartment was at the port. Door to door to the airport in 26 minutes. There’s a unit for rent I think either right next door to my unit or on the floor above. Great building with a small supermarket, pharmacy, produce shop, and about 5 cafe/restaura…
I see dead people.
Surprise, surprise, when we go behind the headlines and look at what actually happened, retail sales went gangbusters. Sort of.
5 day cycle projection 3235
The Treasury’s numbers for June were as bad as expected. Early July numbers look good, but it’s a trick. Here’s how we know, and what that means for the markets.
The market made a 3 day cycle low at the bell yesterday, testing it in the wee hours in NY. The ES has rallied back to the top of an apparent channel. This is where push comes to shove.
The up phase may die here leadin…