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Reversal or Bullish Consolidation? Less Dip-buying....

Started by dTraderB , Jul 17 2019 05:51 AM

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#1 dTraderB

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Posted 17 July 2019 - 05:51 AM

It looks more like consolidation and then continuation of the rally but there seems to be more stealth selling and less dup-buying.

In OPEX week, it is meaningless to try to analyze most market movements but a new SPX high will give bulls another chance to tack on 2 to 3 %.

However, I still see a sharp drop of at least 5% and then more after the initial rate cut.

It could get as bad as this inevitable fraudcoin crash:

Investing.com‏Verified account @Investingcom

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It's gone from bad to worse for Bitcoin Down -14% Here's why: https://invst.ly/ba71s #bitcoin $btc #crypto #cryptocurrencies

2:29 AM - 17 Jul 2019

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#2 q4wer

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Posted 17 July 2019 - 07:58 AM

are you talking about the bitcoin or spx? spx is going to drop?

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#3 dTraderB

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Posted 17 July 2019 - 09:26 AM

are you talking about the bitcoin or spx? spx is going to drop?

spx

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#4 dTraderB

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Posted 17 July 2019 - 09:28 AM

YOu can smell the odor of a top - ST or IT, near or at such a top, when too many are trying to justify why the market must go higher!

all over NEW & OLD media, they are trying to convince you, maybe also themselves, that the market MUST go higher, to 3400, 3500, etc etc

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#5 dTraderB

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Posted 17 July 2019 - 09:41 AM

BEARS need a rate cut at the end of JULY, preferably as much as 50bps

Helene Meisler‏ @hmeisler

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The Fed doesn’t seem like it is changing its mind about a possible rate cut later this month even though the latest economic data don’t show a need for monetary stimulus https://www.wsj.com/articles/feds-rate-cut-plans-stop-making-sense-11563291125?shareToken=sta34508945a10433a8e27f9fe7005c94b … via @WSJ

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#6 dTraderB

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Posted 17 July 2019 - 09:42 AM

Not a fan of this Bradly thingy but many are:

Helene Meisler‏ @hmeisler

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There is a bolded, but not red Bradley date coming up on Tuesday.

3:52 AM - 17 Jul 2019

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#7 dTraderB

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Posted 17 July 2019 - 09:44 AM

Meanwhile... while watching VXX gradually inch up....why the heck it is not blowing off above 24?

Must be the FED guys selling more VXX?

This could be my best NQ short of a long time, maybe weeks ago! Seems like it...

Anyway,

Holger Zschaepitz‏ @Schuldensuehner 26m26 minutes ago

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Crazy bond mkt rally continues w/ 10y German Bund yields drop to -0.3%, and 10y French yields turn negative again.

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Holger Zschaepitz‏ @Schuldensuehner 1h1 hour ago

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Triple B-rated corporate bonds are the only realistic option for some investors who want to avoid negative yields in Europe, and this demand offsetting the downgrade risks to junk, BBG reports. Euro BBB notes offer an average yield of ridiculously low 0.71% despite downgrade risk

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