21 replies to this topic

[dTraderB]

So, here is the Summer rally of 2018, jerky, stop & go, back-filling, confused, and rather weak, so far. But, it's still early and while we may not get a rip-roaring rally blazing away to new record highs, there is the possibility of at least SPX 2800/05.

 

This will not be pretty, market is weak and indecisive, there will be very slow activity on some days and frenetic action on others, and day-traders might want to look for a day job elsewhere. The really big news could be the failure of bulls to run with it and give up the baton to ever eager bears who have so far failed to capitalise on the bull's lethargy and fear.. 

 

SPX 2700 has been the line in the sand but remember that the more times support hold the support does not necessarily gets stronger! There is a reason why the market declines to that level and one day the support will not be able to withstand repeated hammering, after which the flood gates will give away to .....2600? 2500? 

 

SPX 2600 and lower will be seen in 2018, and certainly in 2019, but when in 2018? Summer or Fall? 

 

 

[dTraderB]

As the higher gasolene prices eat into the tax cut benefits.....rising inflation etc....

 

 

Donald J. Trump @realDonaldTrump

The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!

4:46 PM · Jul 4, 2018

 

https://www.cnbc.com...il-markets.html

[dTraderB]

Expect a ‘choppy’ July before an end-of-year market blowout, Blackstone's Zidle says

https://www.cnbc.com...-bull-says.html

[CLK]

I've been waiting for Trump to go after OPEC.

[dTraderB]

The best way to go after OPEC is to increase US oil  & nat gas production, especially shale oil & gas; also start opening the spigots in the SPR ......appelaing to OPEC will not work. 

[CLK]

The best way to go after OPEC is to increase US oil  & nat gas production, especially shale oil & gas; also start opening the spigots in the SPR ......appelaing to OPEC will not work. 

 

 

Yeah, but he can threaten to take away US protective and financial support. Where does Saudi Arabia get their food from, put an export duty on that then. If it weren't for "watering " down our gasoline with cheap pollution causing ethanol, gas would be $5. It needs to stop.

Edited by CLK, 05 July 2018 - 07:30 AM.

[CLK]

Here is the trade imbalance numbers, over 700 million more negative from April of 2017.

 

https://www.census.g...ance/c5170.html

[Data]

There is almost always a decent rise in the market indices in the hours preceding the release of the minutes of the last FOMC meeting.  It is as if the thing is paying homage to its rulers.  The best way to accomplish it is to inject funds into the system, bid up the futures prices, or both.

Edited by Data, 05 July 2018 - 08:13 AM.

[CLK]

I'm getting a signal for an inv. H&S failure to new lows.

[dTraderB]

This could be a big hourly reversal candle as the Chinese reiterate they will introduce tariffs as the deadline approaches.