All of this per the NFTRH Trade Log, which subscribers have access to but are encouraged to use for reference only, as I am no better than the next guy when it comes to daily trading. I covered shorts when the market was red and then started adding long positions as SPX ground the SMA 200 and looked to hold it. Here is the current chart from that update. I am their market manager trying his best to help keep us all on the right side of the market’s probabilities. I hesitate to write in a seedy newsletter writer style of ‘my subscribers were warned in advance and were kept out of harm’s way and ready to take advantage’ because I give NFTRH subcribers much more credit than that. Sure, it can go for that gap.īut SPX is at the SMA 200, sentiment is changing in a big way and I think the point has been made to any and all who had lapped up the jingoistic bullshit coming out of the White House. Can SPX go for the lower gap all in one big gulp? Well let me ask you this how vigorously, how constantly, how emphatically did the president of the United States pump this market’s tires? I really do think this melt-down is emblematic of that asininery and it is doing a fine job of neutering it. I covered another short (on SOXL) and still have the bullish feelings (short-term only at this point) welling up within me. The linked post included a chart of the S&P 500, down another 1.4%, filling a gap and kissing the SMA 200. Our handy graphic (courtesy of Sentimentrader) once again makes the point of who exactly got sucked in and likely, flushed.īut then came the relief on Friday, just as we had suspected earlier in the day when everything was red as a far as the eye could see. It’s a good bet that much of the new money, the ‘all-in and ready to make coin’ retail money summoned by the now-fiscally unrestrained economy and wooed by Donald Trump’s relentless stock cheer leading on Twitter, was pounding away at keyboards searching for what went wrong as well. Per Google’s computation method, the reading cannot go higher than 100. Here is a look at the Google Trend for the search term “stock market crash”. Much like during the 2015-2016 period, when the media were all but demanding investors go one way when the right way was the opposite (for example, we got bullish during the Brexit mini hysteria because sentiment, macro indicators and charts told us to) during the market top (that wasn’t).īut today the bliss is wearing off as the average person did not need to wait for his monthly statement to see that something went wrong with the up-melting market that was printing him money every month. Let’s cut to the chase the markets have finally fallen in line for those of us who manage markets, as opposed to dollar cost average into them through a money manager and then go about life, blissfully unaware. We will update global markets as well as the macro situation in NFTRH 486, but for this article I’d like to focus on the US stock market.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |