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i am convinced we are close to an important top


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#1 gannman

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Posted 22 June 2020 - 07:54 PM

how important i dont know we could do a corrective wave ii here or we could start a bear market

 

i dont know , we are going to find out . at the minimum we are going to have a pullback 

 

yes the techs are acting well but a lot of sectors are not this whole rally could have 

 

been an elliott 5th wave   all fwiw 


feeling mellow with the yellow metal


#2 kaiser soze

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Posted 23 June 2020 - 04:52 AM

What is your opinion on $SOX?  Fundamentally speaking, it would seem to me that the Semis are most affected by the trade deal news since as a sector, they have the maximum revenue exposure to China.



#3 pdx5

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Posted 23 June 2020 - 09:10 AM

China has 1.4 Billion people. The world has 8 Billion people. Asia has 5.5 Billion perople.

Almost all countries in East Asia and South Asia are heavily populated and becoming more prosperous by the hour.

Mr Ambani in India is now worth $65 US Billion, making him 9th richest man in world, and the richest in all of Asia.

Eastern Asia (Turkey, UAE, Saudi A, Syria, Ukraine, Israel etc ) countries are also gaining in economic output. 

 

My point is China is no longer the only important economy in Asia. Japan still makes better quality goods than China.


Edited by pdx5, 23 June 2020 - 09:11 AM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#4 slupert

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Posted 23 June 2020 - 12:11 PM

2nd quarter window dressing should keep us good to July. Notice how Powells bond buying binge will be at the same time the  economic dead cat bounce and unemployment sugar high wears off. Ol' Jay's coming with six guns blazen!! (JMHO)



#5 gannman

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Posted 23 June 2020 - 05:52 PM

the sox very well could have topped today financials and transports not a part of this rally not good imo 

 

we will see 


feeling mellow with the yellow metal