@TayFx, all most like a dream/I am in for the dream/
Bart10000
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Tay! How you? You think SPX is out bear? I can not think that? I thought we gonna see 1600
TayFx
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@Bart10000, It's technically out of a bear market, but there are so many underlying fundamentals that don't line up. It's dumb money buying because their broker is pitching "defensive stocks".
-fixed income yields today are all negative
-jobs data is yet to come this week
-61.8% retracement zone (2900/3000) big resistance
-Maybe 2-3 more monthly prints of bad data, followed by historical GDP numbers in the fall
This is by no means a market rising on true fundamentals. The worlds largest service economy is shut down. And it's being forced to. Prices are inflated right now.. multiples will continue to decrease for the next 3 years of deleveraging
Bart10000
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@TayFx, insane!! I am sitting on my hands forcing not to FOMO in to this market..... I want to short so hard it is scary.... Thanks for your amazing answer i agree 100%
TayFx
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@Bart10000, sure bart.If you want to see the bias of smart money, look to german bunds, italian and us sov. debt, and the spread between the 3month yield and the 10 year yields. Watch gold and watch oil.
TayFx
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@Bart10000, look at tesla this morning. Why is there stock going up? Who is buying their cars? No one.. no ones building them either. Pajama traders on robin hood are because they like when elon lit a joint up on a podcast