The center of the next cloud of risk cycle turns appears to be roughly next Monday the 10th of July, but this is one sloppy cloud, so draw this turn arrow on the chart with a fat tipped flair since tomorrow (Friday the 7th) has four risk cycle turns, Monday the 10th has two, Tuesday the 11th also has two and Wednesday has one. Let's just say in the next couple of days a turn up or an acceleration down is likely given the approaching risk cloud.
I am a bit puzzled by the market's behaviour given the recent extreme levels of risk. The last few market turns during risk windows have been lame to put it mildly. There is lots of talk about the lack of extreme bullish sentiment, but every minor turn down is quickly reversed by the buy the dip crowd. Many of the bears in the sentiment surveys must be under-invested closet bulls or at the very least don't walk their talk. And the black swan I just knew was right around the corner, it's still a no show Godot.
The system remains in cash.
Regards,
Douglas
Douglas Trading System
Started by
Douglas
, Jul 06 2017 01:00 PM
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