So anyway... one more leg up, fake and break, break and fake? I don't think the BS party is over with yet.
For those playing the Ivy Portfolio Game, it appears you'll be getting long the TLT (or IEF) tomorrow. I know, Fed raising interest rates, GDP is supposed to pick up in the second half, rising international inflation.... madness!
The market is a beautiful and rather simplistic thing -- I would hardly call or describe it as a 'mad house' Nice GIF though...it never rains, but it pours,
After all this time, still ZERO risk going long in this market. This is why. http://www.econmatters.com/2017/06/a-totally-rigged-market-with-world.html
Somebody must not of told ES traders tonight. Looks to be headed to take out today's RTH lows. If so maybe it just gets reversed tomorrow. And maybe not. No big deal right? I've been wrong before and will be wrong again (maybe this time) but my current EW wave count SPX daily chart looks ominous: View attachment 176056
The growing bear sentiment is setting up for a year end rally. Also growing bear sentiment in the news: GMO: The S&P 500: Just Say No and Wall Street Banks Warn Downturn Is Coming When was the last time Wall Street ever warned the masses that the end was near? These people will end up being rally chasers: