Reaching for oil and grasping
at straws.
I'll make this brief again because I am running out of ways to be wrong. The market is mocking me, common sense, and the indicators.
Oil made another all time intraday and closing high yesterday, yet the market shook it off again.
Chart provided courtesy of www.decisionpoint.com
I'll show a "sell / quick buy" PMO indicator trend for the S&P 500. You can see in the one year chart below, when the PMO indicator gives a sell signal (blue line goes below the 20-day moving average green line) then gives a quick (within 2 weeks) buy signal (blue goes above green) it tends to be a sucker signal.
Chart provided courtesy of www.decisionpoint.com
In the last year that typically slowed things down before a correction began shortly thereafter. What would cause a correction if everything else has failed? It could be the earnings reports. We should start seeing some bigger name companies reporting soon. I know Apple reports later today. Also, Monday starts the historically weakest stretch of July. It will be the 11th trading day of the month.
Chart provided courtesy of www.sentimentrader.com
That's all for today. I told you this would be quick. I'm out of excuses. Currently 100% G fund. Until next time, thanks for reading.
I'll make this brief again because I am running out of ways to be wrong. The market is mocking me, common sense, and the indicators.
Oil made another all time intraday and closing high yesterday, yet the market shook it off again.
Chart provided courtesy of www.decisionpoint.com
I'll show a "sell / quick buy" PMO indicator trend for the S&P 500. You can see in the one year chart below, when the PMO indicator gives a sell signal (blue line goes below the 20-day moving average green line) then gives a quick (within 2 weeks) buy signal (blue goes above green) it tends to be a sucker signal.
Chart provided courtesy of www.decisionpoint.com
In the last year that typically slowed things down before a correction began shortly thereafter. What would cause a correction if everything else has failed? It could be the earnings reports. We should start seeing some bigger name companies reporting soon. I know Apple reports later today. Also, Monday starts the historically weakest stretch of July. It will be the 11th trading day of the month.
Chart provided courtesy of www.sentimentrader.com
That's all for today. I told you this would be quick. I'm out of excuses. Currently 100% G fund. Until next time, thanks for reading.
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