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Misc Stock Market

Import prices rising for the fist time since mid last year. China opening? Tech layoff's set to eclipse last Novembers numbers. Several store closings and BBBY bankruptcy. Fed increasing to holding rates this year, contrary to markets rate decrease expectation that's priced in.

US is here:
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Did Oil Plateau?

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Most overbought NASDAQ has been in years...it's on day 7 up. Such a momentum driven market...

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PPI falling off a cliff...would expect CPI to keep rolling over too. Tough to imagine Fed going any higher than .25% next meeting and then I expect them to be done.

 
The Debt ceiling problem is actually helping the market as the Treasury is drawing down the TGA. Also you are seeing a big draw down in RRP at the fed post year end ramp up. This is all short term though.
 
If SPY closes green today it will close over this year long trendline that has been rejected hard the previous 4 times.

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Very bearish candle on Wednesday now we up 1.6%. But, it bounced at the 20dema so it's not really bearish I guess. Still feels predatory and I think mis-direction will be happening for some time. Haven't traded anything in weeks and no fomo.

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KyloG said:
Very bearish candle on Wednesday now we up 1.6%. But, it bounced at the 20dema so it's not really bearish I guess. Still feels predatory and I think mis-direction will be happening for some time. Haven't traded anything in weeks and no fomo.

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Correction is over
 
Haven't made any retail trades this year just waiting, which looks dumb now but oh well. My IRA is running, AMD still my biggest position and breaking out. Sitting at low $60's avg and not selling any shares...I guess maybe if it hits $120 I may trim but that won't be this year.

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This is fairly bearish setup...on Monday SPY closed higher than last weeks high and then promptly gave it up with power today. This is why I am sitting out right now...the mis-direction is tough.

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Tough day...bottom drops out and tech drops 2.6% very fast and then grinds back up 2%. Last year it seems like these days closed on the dead lows but this year, 4 weeks in, the dip is getting bought.

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Q's break out...this would be an epic bull trap if this fails.

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