5 replies to this topic

[dTraderB]

Bulls faltered badly when they had a great opportunity to go for the jugular and take this market above SPX 2760. 

 

Below SPX 2745, I am bearish. This could be only ST but every failed effort to break out above 2740/45 will strengthen the bears. 

 

 

 

[dTraderB]

"Geopolitics again seemed to be the main factor in the market action on Tuesday. In a press conference with South Korea's President Moon, President Trump suggested that the summit with Kim Jong Un could be on hold or at least delayed," writes Todd Market Forecast's Stephen Todd. "That seemed to take away the bids. We continue to believe that the path of least resistance is to the upside, but not powerfully so. The market can be buffeted by extraneous factors."

 

https://www.barrons....orry-1527028228

[dTraderB]

shallow pull-back or reversal?

[dTraderB]

SPX > 2760   more bullish 

 

SPX  > 2745  bullish

 

-- no man's land between 2745 & 2722 ---

 

SPX  < 2722 bearish

 

 

SPX < 2700 more bearish

[dTraderB]

Congratulations, Mr President!

It's good you have finally figured out these commies are yanking your chain. You are the most powerful man in the world, head, of the most powerful nation in the world, so you don't need to kowtow to anyone. You must always negotiate from a position of strength and never give away anything for nothing. 

 

Trump Blames China’s Xi Jinping for Sabotaging the Kim Jong Un Summit After that surprise second meeting with Xi this month, the North Korean leader suddenly moved back to the dark side in his dealings with the United States

https://www.thedaily...-jong-un-summit

[dTraderB]

Made a 2.25 profit on that post-Fed Minutes bounce so no complaint there. 

But, those Minutes do not appear to be dovish.... I think. 

 

However, I will suspend my analysis in order to trade what the market "thinks" so I will ride this ES wave up.....

....and down after reality hits.