looks like getting out of sqqq yesterday was the right decision in the short term, markets just look like they want to test that ATH area again.
yea i wonder if this will finally be the push to new highs as so many have been anticipating this summer ... will the 3rd time be the charm? resilient markets are resilient! we've come so far from that post-brexit selloff might as well just print the new high and get it out of the way already lol
What a fragile economy that we cannot see interest rates budge a little. Again we trade price but I think that the FED has to keep holding things up...they let the recession happen and they lose control. Again we shall see.....
Here is like 7 head and shoulders back to back.....trying to figure out what to call this I like the word chop....these 200 levels need to hold
What fragile economy? Everything is amazing out there! Well, according to most of the bulls on CNBC anyway.
Haha...is funny when they are bearish I am looking for a pop...bullish and I am looking for a short term pop Remember that the friday before Brexit they came out with a firm that said PCLN to 1500....that was the bait for retail... Its see what they do and where they close this week
Can't remember this many failed attempts at a new ATH over the last 2 years in recent memory. If this current post Brexit rally wants to set a new ATH, it better move quick before earnings reports start rolling in next week.
Seriously, wish this market would set a new ATH already so I can close my short positions, go to cash, and turn my attention elsewhere for awhile.
^^ this i've been involved with markets either as an observer or trader for over a decade and even i can attest to this of not remembering seeing so many failed attempts at new highs with so many attempts at bumping its head at the top eventually its gotta break, right? we'll see ... but i'll say it would be one epic fail if this doesn't make a new high imo i'm actually not in the camp (never was) of new market highs, but if this doesn't make a new high after all its done to rip faces off from that brexit selloff that will be something else ... i don't think i can ever remember a market being so indecisive as far as direction is concerned for the past 18 months as much as we have seen here how much of this indecisiveness is due to the FED?
I am of the opinion that the FED will not voluntarily end this party. They will only raise rates if inflation takes off and their hands are forced, and I don't see inflation taking off in this anemic economy. I think the more likely scenario is that the FED will keep their foot on the gas until the engine blows and this time they won't have many tools to turn things around.
I seriously can't see any reason for anyone to be adding in this market, in fact it makes no sense to me at all if you have nice profits near ATH's to not be taking profits here. If we make new highs with conviction you can add and only miss roughly 1%, but like CY says if it fails it will be epic. I am leaning to "epic" myself. 75% cash and licking my chops.
Greed is one possible reason. Along with fear, these are what move the markets. It's been a great run these last 8 years and no one wants it to end.
