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"NEVER SEEN BEFORE" but JULY BULLISH SEASONALITY


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#1 dTraderB

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Posted 10 July 2024 - 06:50 AM

Walter Deemer (@WalterDeemer) posted at 8:47 PM on Tue, Jul 09, 2024:
Tuesday Update: We now need 2524 cumulative net advances to eliminate the current breadth divergence; 721 more than yesterday. https://t.co/GbI0PB7px7
(https://x.com/Walter...1220934670?s=03)

The Real Norseman1 (@Norseman1) posted at 6:26 AM on Wed, Jul 10, 2024:
Investors Intelligence: Week Ending 7/9/24

Bulls 62.70%
Bears 17.90%

This is the 5th straight week above 60%. I look at the extreme, duration of the extreme, along w/ basket of data into the extreme and it tells me local price top even within a Bull Market.
(https://x.com/Norsem...1874551017?s=03)

SentimenTrader (@sentimentrader) posted at 9:00 AM on Tue, Jul 09, 2024:
Participation on the NYSE has been so weak that the maximum McClellan Oscillator over the past month had barely been positive. These persistently weak readings pushed the Summation Index to around 100.

That's about the same level it was at in April when the S&P was about 500 https://t.co/pTn5vgepM4
(https://x.com/sentim...9545688279?s=03)

Liz Ann Sonders (@LizAnnSonders) posted at 6:05 AM on Tue, Jul 09, 2024:
10 largest names in S&P 500 now account for nearly 37% of the index in terms of market cap highest concentration since 1972 per ⁦@NDR_Research⁩ https://t.co/xbkw67KKmo
(https://x.com/LizAnn...2172741105?s=03)

Global Markets Investor (@GlobalMktObserv) posted at 3:30 PM on Tue, Jul 09, 2024:
THIS HAS NEVER BEEN SEEN BEFORE:

3-month correlation between S&P 500 returns and the number of S&P 500 stocks advancing dropped to the LOWEST on record.

It means that the number of stocks driving gains is the smallest EVER.

Notably, 40% of S&P 500 stocks are down year-to-date. https://t.co/JS8BxUzcAL

Bespoke (@bespokeinvest) posted at 7:40 AM on Tue, Jul 09, 2024:
The six-month performance spread between the S&P 500 and S&P 500 Equalweight index has only been higher than it is now during a small number of days in March 2000. https://t.co/EoZgtMWMuJ



#2 redfoliage2

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Posted 10 July 2024 - 07:47 AM

As the seasonality goes it's still early in July that is historically one of the best performing months of the year.  We are likely to see SPX to go above 5600 on good CPI data out tomorrow ................................  



#3 redfoliage2

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Posted 10 July 2024 - 08:06 AM

As the seasonality goes it's still early in July that is historically one of the best performing months of the year.  We are likely to see SPX to go above 5600 on good CPI data out tomorrow ................................  

BTW, I see tomorrow's CPI is likely staying on the disinfaltion path as indicated by the previous PPI data.  Let's see tomorrow ................................  


Edited by redfoliage2, 10 July 2024 - 08:14 AM.


#4 K Wave

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Posted 10 July 2024 - 01:35 PM

wrong board


Edited by K Wave, 10 July 2024 - 01:35 PM.

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