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Stock Market Today: July 29th - August 2nd, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Jul 27, 2019.

  1. bigbear0083

    bigbear0083 Content Manager
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  2. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Everyone's seatbelt fastened on the rocket ship this morning?
     
  3. OldFart

    OldFart Well-Known Member

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    rollcercoaster.jpg
     
  4. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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  5. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Just hit 300.00 exactly according to tradingview. lets see what happens the rest of the day. Wasn't there a member at the old HSM that was all about round numbers?
     
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  6. OldFart

    OldFart Well-Known Member

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    I think I remember something like that too...
     
  7. OldFart

    OldFart Well-Known Member

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  8. OldFart

    OldFart Well-Known Member

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    SPY resistance at R1 pivot....hmmm...wonder if it'll break thru

    spy.png
     
  9. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    nice comeback from LABU today, glad i didnt sell it yesterday
     
  10. OldFart

    OldFart Well-Known Member

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    IWM not participating in the rally.....

    suspicious.jpg
     
  11. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Hopes for another rate cut increased after IHS Markit’s U.S. manufacturing PMI dropped in July to its lowest level since September 2009. IHS said employment in the sector fell to its lowest level since 2013. Muted client demand and a slower increase in production weighed down the manufacturing space.

    The Institute for Supply Management’s reading on the manufacturing sector fell to 51.2 in July, its lowest level since August 2016. Economists polled by Reuters expected a print of 52.

    https://www.cnbc.com/2019/08/01/stock-market-fed-cools-expectations-of-further-rate-cuts.html

    Looks like this market is hoping for more lackluster economic numbers and more rate cuts :p
     
  12. StockJock-e

    StockJock-e Brew Master
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    OldFart likes this.
  13. bigbear0083

    bigbear0083 Content Manager
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    whoa big red bar just now ... not really paying close attention to the markets today ... any news?
     
  14. stock1234

    stock1234 2017 Stockaholics Contest Winner

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  15. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    China probably will just gamble that Trump won’t be re-elected, I am not really expecting a trade deal before the election next year :p
     
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  16. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    10 year yields at just 1.9% now :eek:
     
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  17. bigbear0083

    bigbear0083 Content Manager
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    that's a pretty sweet reversal off the earlier day's highs :D
     
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  18. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Yeah haven’t seen this kind of reversal for a long time :eek:

    Gold went from red to Up well over 1% for the day :eek:
     
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  19. bigbear0083

    bigbear0083 Content Manager
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    haha, hopefully this is just the beginning of things to come this month. the market has been pretty stagnant for a while now.

    i was thinking this month would be pretty dead absent a black swan event or trump tweet...well sure enough we got the latter of the 2. :p
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    If more tariffs mean more rate cuts are coming, then my guess is this market will still be fine :p
     
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