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There Has Never Been a Year Quite Like This


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#11 dTraderB

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Posted 07 July 2021 - 08:13 AM

 
 
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Individual investors bought $28 billion of stocks and ETFs in June—the highest level since at least 2014 and MORE than what we saw during the initial meme frenzy in Jan Via


#12 dTraderB

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Posted 07 July 2021 - 08:15 AM

"TD Ameritrade clients increased equity exposure during the June IMX period. The IMX increased to 9.08, up 9.13%, reaching the highest point on record." https://tdameritrade.com/research/imx.html
 
"We believe that these high levels of trading can be at least partly explained by a simple behavioral bias: People are overconfident, and overconfidence leads to too much trading." https://faculty.haas.berkeley.edu/odean/papers%20current%20versions/individual_investor_performance_final.pdf
The Nasdaq Composite closed at a 52-week high today, something it's done 1,080 times since 1984. On those days, an average of 50% of stocks on the Nasdaq advanced on the day. Today, 31% of stocks on the exchange advanced. That's the lowest out of all those 1,080 days.
 
An average of 41% of stocks in the Nasdaq Composite closed above their 10-, 50-, and 200-day averages today. That's the lowest percentage for any day when the Composite closed at a 52-week high.
 
 


#13 dTraderB

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Posted 07 July 2021 - 08:18 AM

High & Low of Previous ES hourly RED OUTSIDE candle  are ST support & resistance

 

Same for this week's daily current HIGH & LOW



#14 dTraderB

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Posted 07 July 2021 - 08:24 AM

"One reason I had been eyeing early July as a point for a pullback is because I believed sentiment would get giddy around this point. And it has. The Daily Sentiment Index (DSI) for Nasdaq and the S&P have both moved to 91. The last time both were over 90 at the same time was late August 2020 as we headed into that peak. As a reminder readings over 90 and under 10 are ones I consider extreme.

 

The American Association of Individual Investors (AAII) saw a jump of 8 points for the bulls last week to 48%. The Investors Intelligence bulls are now kissing 60%. The National Association of Active Investment Managers (NAAIM) whose exposure near those lows in the QQQs were at 44 is now back over 90.

 

Even the 10-day moving average of the put/call ratio is closing in on the lows. A turn up from here is often associated with a pullback in the market.

 

What can make us pullback? I have no idea. If I knew it would probably already be priced in."

 

https://realmoney.th...-giddy-15702646



#15 dTraderB

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Posted 07 July 2021 - 08:25 AM

Come on, NQ, get out of this mini funk --- let us get some  higher intra range!



#16 dTraderB

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Posted 07 July 2021 - 08:27 AM

Trying to catch up during this lull

 

Saturday Poll The next 100 points for the S&P?
 
UP
53.5%
 
DOWN
46.5%
2,322 votes·Final results


#17 dTraderB

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Posted 07 July 2021 - 08:28 AM

Maybe this explains Tuesday's early drop:

 

Market Vane Bullish % at 64, highest since September 2018


#18 12SPX

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Posted 07 July 2021 - 08:42 AM

Love selling at these higher levels, average short now 4311.  Missed my trade yesterday by 5 points yesterday oh well, one day we'll see real volatility once again, didn't even see -1% yesterday lol! 



#19 redfoliage2

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Posted 07 July 2021 - 03:14 PM

This looks a gap-down in the cards for tomorrow.......................



#20 dTraderB

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Posted 08 July 2021 - 06:54 AM

Wonder what is the REAL REASON for this overnight plunge?

 

This looks a gap-down in the cards for tomorrow.......................