Sentiment surveys give a rough idea which way investors are leaning. The extremely low bullishness is quite odd with the market so close to all time highs. Anyone following Puerto Rico bonds? I've seen the following pop up at various places: Obama sure did seem like "Morning in America" after the drunk hangover. Another Clinton may produce another Clintonlike bubble.
Oh no a bearish daily candle, a DOJI.....Never fear it will be voided overnight or by days end tomorrow.....same thing over and over and over
Nonsense, QQQ is so bullish, and it always rallies before a long weekend. There will always be bears who say this time is different, and then on a low volume day will be forced to cover yet again, when Yellen is yelling.
Posted a few months back...the OpEx melt-up didn't materialize last week so we got it this week... It's a long list of "precursor's" to higher prices. 1. OpEx week. Last count, probably 9 out of 12 of them were major squeezes higher into the third Friday of the month. 2. EOM (End of Month) into BOM (Beginning of Month) ramp jobs. Many swing turns occurred right around the first few days of the month...which leads to... 3. First Friday of Month Employment Reports. Even if the action leading up to it is bearish, who is going to risk being short with the overnight goon squad on the scene...which leads to... 4. "Rickshaw Market" (i.e.) our resident advisor on the perpetual overnight bid to "make things pretty" for the breakfast crowd...In "bullish phases" the drift higher is ever present. In "bearish phases" it sets the table for the slamdown selling around the NY open...which leads us to... 5. The Pre-Fed (FOMC) / the Pre-ECB / the Pre-BOJ "squeeze" which land throughout the month outside of the above squeeze catalysts...These are staged over a few weeks to make certain that if one of the consortium of "price setters" doesn't get the job done, the next in line can "make things right". In fact, sometimes the "get things right" will occur the following day when the market " gets it wrong" (See Mario Draghi, 12/4/2015). So if you can find a window in between all of the above "catalyst's" to major market squeeze's in bearish phases and the status quo in the low volatility bullish phases, please advise.
Have a good weekend. I already took profits before Yellen speech. On my backtests, the pre-holiday DAY itself (i.e. right now) is actually negative in the afternoon. (As I said before, it opens up to squeeze all the bears on a light volume day.) So here is a small window for you that is negative. Negative, from now until the close. But I won't be trading. Off for a long weekend, and thanks Yellen for the free money.
Yellen....RATE HIKE APPROPRIATE IN COMING MONTHS IFFFFFFFFF........................... ECONOMIC DATA IMPROVES........SO IN SHORT NO RATE HIKE IN JUNE......DATA WON'T SUPPORT IT......WATCH AND SEE.......ITS ALL RIGGED NOW.