27 replies to this topic

[redfoliage2]

Bounces at this juncture just inviting more selling as the market still in over-bought conditions .....................

Edited by redfoliage2, 25 June 2024 - 11:48 AM.

[redfoliage2]

It's likely the market is going to stay in a narrow range till PCE data out Friday morning ..............................

Edited by redfoliage2, 26 June 2024 - 08:56 AM.

[redfoliage2]

It's likely the market is going to stay in a narrow range till PCE data out Friday morning ..............................

I see it shall decide the market direction for the next few weeks ................

Edited by redfoliage2, 26 June 2024 - 09:28 AM.

[redfoliage2]

Today dips were bought and the 10 year treasury yield turned down as the market participants are getting prepared for PCE out tomorrow morning.  I see the likelyhood is good for US economy to remain on the disinflation track, we will find out tomorrow ........................

Edited by redfoliage2, 27 June 2024 - 02:24 PM.

[redfoliage2]

PCE data out - both MOM and YOY down from previous.  It's bullish for the stock market ............................ 

[redfoliage2]

 

It's likely the market is going to stay in a narrow range till PCE data out Friday morning ..............................

I see it shall decide the market direction for the next few weeks ................

 

As today's PCE confirm the CPI data that US inflation is going further down we are likely to see the bull run to continue in July and SPX is likely to reach 5600 in the summer ..........................

[12SPX]

Curious, when did it relieve overbought conditions you were talking about a few days ago?

[redfoliage2]

Curious, when did it relieve overbought conditions you were talking about a few days ago?

The market has been in consolidation for about a week prior to the PCE and with today's PCE it's time for the bull run to continue.  If you expect the market to have a deep correction you might have to wait till October, I guess ........................

Edited by redfoliage2, 28 June 2024 - 09:03 AM.

[redfoliage2]

Today dips were bought and the 10 year treasury yield turned down as the market participants are getting prepared for PCE out tomorrow morning.  I see the likelyhood is good for US economy to remain on the disinflation track, we will find out tomorrow ........................

12SPX:  I actually posted a heads-up here yesterday ...........................

[12SPX]

guess you shoulda stuck with it being overbought lol