The 'Mother' Of All Melt-Ups - Markets Surges Back To Overbought As Investors Go ‘All In’“
Posted 11 April 2021 - 12:14 PM
Despite the recent breakout in the S&P 500, the stock market is NOT in a "bubble".
Global PMI reports continue to impress and support the Bullish price action.
Despite the continuing roadblocks, the latest JOLTS report indicates the labor market is in extraordinary shape.
Posted 11 April 2021 - 12:18 PM
Holger Zschaepitz (@Schuldensuehner) tweeted at 1:07 pm on Sat, Apr 10, 2021:
Buffett Bubble indicator raises the alarm as the total US mkt cap has risen >200% of US GDP. But maybe in times of money printing, we have to look at the markets in a whole new way! https://t.co/dW1VCiq7Tp
Posted 11 April 2021 - 12:23 PM
What is expected to be a solid earnings season gets underway in the week ahead with the major banks the first to report.
There is also some key economic data, the most important of which is the consumer price index Tuesday - even more important after a surprise jump in producer inflation in March.
The consumer is also front and center in the coming week, with the March retail sales report expected to show the impact of fiscal stimulus checks on spending.
Fed Chairman Jerome Powell appears on 60 Minutes, kicking off another busy week for Fed speakers.
Posted 11 April 2021 - 12:38 PM
Plan April 11/12th 2021.
ES_F Pivot = 4111
I want to try small longs here or at 4120 for attempts on 4140-4144 where I may consider initiating some shorts during RTH.
Pivot = 13758
Longs above targeting: 13880, 13950, 14k.
Shorts below targeting: 13720, 13696.
Posted 11 April 2021 - 08:17 PM
Many people asking when this bull market/bull run ends and the only honest answer is 1) Nobody knows and 2) When supports break
Markets make it clear when the trend changes by losing long term trendlines or prior breakout levels. Until then, trend is up & bias is buy pullbacks
Posted 11 April 2021 - 08:19 PM
Note: As shown ideal we see abit of a dip Monday or Sunday then surge to 4160 where we can get a more protracted cool off. Should be buyable though at the levels shown for a rally into the 4260 next up
Have a great weekend! After 3 big green weeks, #ES_F is near key resistance - that of a perfect six month "megaphone" pattern at 4160
Plan next week: Resistance is 4120 then 4160 where I'd like a cool off. As long as 4k holds though, this is bullish into April/May. Pathway below https://t.co/59kYxT2U1c