FOR FRIDAY: (7/27) GDP is a big deal on Friday, as some estimates are for 5.2% based on recent stats. Will the market think overheating or get exciting? This market is on steroids so we have to be cautious.
FOR THURSDAY: (7/26) The EU caved to Trump’s demands and produced another leg up. Now we have ECB and GDP, and the market is often vulnerable a week before FOMC so hard to press longs. Facebook is tanking after hours, pulling NQ sharply lower, and it will spill into the broader market so a top…
FOR WEDNESDAY: (7/25) Dog days of summer and some wild cycles are still present but we think stocks will hold up another day at least but it may get dicey going into next week’s FOMC meeting, and often stocks will sell off 35-50 points before the announcement. Not sure if the best day for that…
FOR TUESDAY (7/24) The trade couldn’t break stocks so they took them up for their typical Monday romp. Tuesday looks higher for stocks so we can’t stick around and we probably have to buy in the morning, and NQ is about to breakout. Chances are a rally on the dollar is a sale on Tuesday…
FOR MONDAY: (7/23) Funny reversals in metals and currencies may drag on until at least next Friday, with Tuesday being a pullback day to get in. Assuming that stocks are mostly lower into the end of the month with very few time windows to rally. Trade already looking ahead to the next FOMC meeting announcement…
FOR FRIDAY: (7/20) Markets were a bit crazy today but key numbers were reached on many fronts and reversals happened. We’ve been in a time window for topping action for stocks and bottoming action for metals, and it look like it happened.
FOR THURSDAY: (7/19) Not sure we learned much on Wednesday and not seeing anything dire on the horizon for Friday, so the Powell breakouts for the dollar and stocks could continue without some shocking news. More likely to get reversal energy by Sunday. Vulnerable surprises are potential out there, with some cycles but probably less…
FOR MONDAY: (7/16) Weekends have been treacherous around China announcements so we are more on the sidelines. By Tuesday, we have Powell testimony and think that we’ll get reversals on most markets until at least July 25 so metals should short-cover, dollars should be lower with crude higher and stocks lower. Monday is a transition…
FOR FRIDAY: (7/13) Retaliation from China over the weekend could keep the market on edge so the trade may be reluctant to push too much higher. We’ve had a lot of surprises by China announced over the weekend in past weekends. Cycles look positive in the morning but to be concerned about weekend profit-taking. In…
FOR THURSDAY: (7/12) Watching overnight carefully but inclined to think that stocks will be higher and not done until 2820 comes on the S & P. Metals look lower for a few more days and oil should be done within a day. Reversal coming next week but not sure why.