Market on fire!
New daily highs, next target 50ma at 2717, support @ 2702 and 2690
Market blows Intraday Gain to close at Edge of Precipice: 200ma beckons
Started by
dTraderB
, Jun 27 2018 07:35 PM
15 replies to this topic
#12
redfoliage2
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Posted 28 June 2018 - 01:19 PM
I see a potential ST bottom here today.
#13
dTraderB
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Posted 28 June 2018 - 03:29 PM
Yeah, that was a strong bounce off SPX 2692.
This rally **MAY** last until the July 4 positive seasonality period ends but one feels there is significant more downside during the next few weeks.
#14
tradesurfer
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Posted 28 June 2018 - 03:53 PM
Seems to make sense then tariffs go live July 6 for next leg down . July 16 week is panic cycle week
#15
robo
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Posted 28 June 2018 - 04:38 PM
Extra selling pressure the next few days...
http://www.wsj.com/m...-moneyflow.html
Mark It On Your Calendars
I was surprised to find that government bonds can mature on a weekend. I don’t trade a lot of cash US treasuries and didn’t realize they can mature on a non-business day.
This means that this month’s QT maturity day effect will occur on Monday - not Friday’s month end.
So mark it in your calendars - Monday July 2nd spooz should trade heavy if this QT theory holds true.
https://www.zerohedg...-your-calendars
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
#16
redfoliage2
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Posted 28 June 2018 - 05:08 PM
It looks the market was able to hammer a solid bottom at spx 2700. Now it should be able to go higher till July 6 as the bad news has been priced in and there may be positive surprises on the trade war before July 6.
