looks like this held true for today ... adp # had one of its largest misses relative to expectations in years today, yet the markets up bigly on hopes that we'll get not 1 but i'm hearing up to 3 rate cuts this year meanwhile the yellow has been catching a really nice bid the past few days ... almost back at year highs today black gold on the other hand now at jan. lows
make that the largest miss vs. consensus in a decade ... the last time the adp # missed by over 150k was back on jan. 7th 2009
A lot of traders were looking to buy oil, thinking it was going back to 80+ with the Iran tensions. I'm thinking we stay range-bound 45-65.
Chinese stocks not rallying so strongly (BABA, JD, NTES, TCEHY, BIDU). I don't think they'll break yet; but think the Shanghai Composite is having trouble getting over the 50 ma (in green; 20 ma in purple).
Yeah gold has done really well lately Golf could continue to rally if the market continues to expect the rate cut later this year and the dollar should weakened on the rate cut expectations
Market trading at HOD here into the close. This market seems to be driven by the FED policy once again
this probably seems safe, but if the spx were to somehow close red this week, that would make it 5 weeks down in a row. only once since 2009 did we see a losing streak longer than that (in 2011 when we had a 6 week losing streak). worth noting that the spx was higher a month later 4 out of 5 instances post losing streaks, and was up close to +7% on average after a 4-week losing streak since the march '09 bottom.
^^ this like you said yesterday @stock1234, it looks like we're back to bad news is great news for the market again btfd appears to be back with a vengeance i guess the market is hoping for a big miss on the NFPs on friday to reassure the market that rate cuts are coming i'd say forget the cuts, let's just go straight to QE infinity again
US and Mexico trade officials fail to reach a deal on tariffs, immigration: NBC News https://www.cnbc.com/2019/06/05/us-...h-a-deal-on-tariffs-immigration-nbc-news.html SPY down about 0.4% AH
FIVE with a red candle today, after beating GAAP EPS and raising estimates last night. It's only one stock, but I'm leaning to this market rally being corrective, rather than resumption of uptrend. When a growth stock can't break out, it may be the market holding it back. SFIX got rejected at a declining tops line UBER is currently back above $45. BYND reports tonight.
to me this feel like the QE days all over again. i feel like this recent bounce back off the low has been almost entirely fed driven, even though nothing has actually materialized...mostly just on "hopes" for now. tomorrow's setup should be interesting. i'd be very curious to see how the market would handle the NFP # seems like the market is betting on a miss post-ADP, to confirm that fed cuts would be coming. if we see a beat or even an inline # that isn't as weak as ADP, that might upset the apple cart. strange how that works, shouldn't a good # be market positive as @stock1234 said, it does seem like we're back to the good 'ole days of bad news = good news again gotta love these fed induced markets
looks like this is now the 8th strongest 3-day start for the month of june for the spx in its history. when the spx has gone up at least +2% to start the first 3 trading days of the month, the rest of the june has been kind of mixed. the average of the 12 years show in the table below was -0.10% will be interesting to see how this month closes out.
Haha yeah since the FED is in the picture again, the NFP tomorrow will be very interesting to watch It would be kinda funny if the market rallied on the bad report tomorrow Jobless claims was good this morning and the NFP doesn’t follow the ADP all the time, so I guess we will see. For the last few days definitely feel like the days when we had QE, we used to open down initially on bad news but then the market just rallied back later in the day no matter what
