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A Sustainable LOW but HOW HIGH this BOUNCE? 5 to 10%


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#21 dTraderB

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Posted 23 May 2022 - 06:00 AM

Will buy the Retail ETF this week if it continues to decline as more earnings in that sector are released this weeK.

From BARRONS:
Another Week of Retail Earnings to Emphasize Inflation Effects
This weeks earnings from retailers including Macys, Dollar General, Dollar Tree, and Costco Wholesale will shed light on how consumers are navigating inflation, higher gasoline costs, and their household budgets. Walmarts and Targets recent underwhelming earnings show shoppers are spending more carefully.

The S&P Retail Select Index is down 32% year-to-date, compared with the S&P 500s 18% decline. Visas spending momentum index is at its lowest point since February 2021 as consumers spend more for food and gas, and less on discretionary items.
Government data said April sales for retailers rose 0.9% from March and 8.2% from last year, but when adjusted for inflation using the consumer price index, they were negative for the second straight month, Barrons reported.
Analysts surveyed by FactSet expect same-store sales to dip 2.8% at Dollar General and increase 2.3% at Dollar Tree. Both companies could benefit from shoppers abandoning name brands for less expensive private-label goods. Both report earnings on Thursday morning.
Macys, which also reports on Thursday morning, has warned that it will be hard to repeat its 2021 performance. Analysts expect a 13.6% uptick in same-store shoppers and stronger sales of higher-priced items as people returned to work and in-person gatherings.
Whats Next: On Friday, the Bureau of Economic Analysis is scheduled to release the personal income, personal spending data, and the personal consumption expenditure price index for April. Both income and expenditures are expected to rise about 0.6% from the prior month.

#22 K Wave

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Posted 23 May 2022 - 08:24 AM

Crude really really struggling at 110 area...super heavy tape action...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#23 K Wave

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Posted 23 May 2022 - 08:26 AM

Rusty bulls have setup themselves up with their best shot at it in a while....but thus far, 1800 a brick wall.

 

now messing with the 1792 pivot again


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#24 K Wave

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Posted 23 May 2022 - 08:28 AM

Naz 5 min line held all night...so still possibility of more down, unless bulls can get something going very soon...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#25 12SPX

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Posted 23 May 2022 - 08:30 AM

Very slow start to the week as it's a holiday up here so up late last night having fun, so exhausted this morning however was of course watching the open yesterday afternoon and night as I said on Friday that the market was likely to rally and it has so far.  Very glad for the dip buyers as I had one of my best weeks trading last week going long although I did go short a couple times lol!!  Market will continue to get quieter volume wise as we move into June and the crash watchers are likely to get burned pretty hard as the market has set up a perfect scenario for at least a decent rally from here for an up week.  It's not rocket science that after 7 and 8 straight weeks down your going to have an up week sometime but I'm sure volatility will remain on the high side but do agree with red, we could see a +5% week in the end!!  For now I'm keeping my PROFIT stops at 3925,11,850 and will buy lower.



#26 12SPX

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Posted 23 May 2022 - 08:39 AM

And just like that, out for a very fat three day profit of 8 points and back in long starting my build at 3920....still holding the ndx trade btw which I think tech will see a nice gain this week...



#27 K Wave

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Posted 23 May 2022 - 08:39 AM

TSLA right back to the lows


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#28 K Wave

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Posted 23 May 2022 - 08:42 AM

Bulls givin' it one more go...

 

If they can get Rusty back above 1794 area, they might just get it done...

 

another trip under 1780 however.....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#29 redfoliage2

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Posted 23 May 2022 - 08:44 AM

After shaking off weak hands it's going higher from here .....................



#30 12SPX

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Posted 23 May 2022 - 08:46 AM

profit stop 3925, buy lower....