Bears are now counting the number of up days in a row, but will soon run out of fingers to count them.
Great post. This may be a good fundamental model for stock and other asset market analysis. A professional security/asset analyst may also believe this to be true and find this quite annoying.
END OF MONTH RAMP JOB....NEXT MONTH IS END OF Q2...SO YOU KNOW WHAT TO DO.....BUY THE DIPS MAKE FREE MONEY$$$$$$...NO WAY IS GRANNY GRAY HEAD GOING TO RAISE....AIN'T GONNA HAPPEN...NOT AT THE END OF QUARTER....JULY MAYBE BUT I DOUBT IT.
I'd love to see the stats on pre-holiday weeks in the indicies...Better yet, flip last week's ES chart upside down and tell me if you've ever seen anything remotely close to that on the downside (it never happens)...clean stair step patterns that don't retrace (compare that to the prior 3+ weeks of downside chop... And it has nothing to do with bullish/bearish bias (as I've outlined in the "Rules for Engagement" above)...It's just the simple reality of how these markets operate..
Nay Anyone looking at NUGT for a turn here? It might be supported by your expectations. Somewhat unrelated but the move in small cap indices is impressive over last two weeks.
The "goon squad" trade of shorting gold and miners re-appeared post FOMC "hawkish" minutes...Of course, that put this robotic bid under smallcaps...they are up 8% in two weeks (now 25% since the Feb lows)...Rickshaw market continues.
Have no fear non farms payroll to the rescue, soon as the number hits the news pundits will start the chatter about the fed holding off on a rate bump. They will help create the cover needed.