If there's another leg down we should know Monday, since we'll hit the upper trendline on this drop. I'm really not sure which way this is going to break, so I'm all cash again except for UAA puts (because there's no way it justifies 100 PE ratio). When in doubt, short garbage.
If the market goes up on Monday, I expect the $295 gap to close. I still think this is a dead cat bounce, but XRT, small caps, and a bunch of stocks like MMM hit support level yesterday and seem to be bouncing off of it, so the Trump tariff drop might be over as of yesterday.
Also, every central bank is talking rate cuts and stimulus. They intend on printing money like crazy I guess. Watch Powell start talking about QE4 in Sept, lol. For some reason, these central bankers are deathly afraid of a recession, quite frankly I think recessions are just normal business cycles, but whatever.
If the market goes up on Monday, I expect the $295 gap to close. I still think this is a dead cat bounce, but XRT, small caps, and a bunch of stocks like MMM hit support level yesterday and seem to be bouncing off of it, so the Trump tariff drop might be over as of yesterday.
Also, every central bank is talking rate cuts and stimulus. They intend on printing money like crazy I guess. Watch Powell start talking about QE4 in Sept, lol. For some reason, these central bankers are deathly afraid of a recession, quite frankly I think recessions are just normal business cycles, but whatever.
Comment:
Figures the computers would pump futures on a Sunday night, I wouldn't chase this rally though, indices are overbought on the hourly, futures charts are overbought on the 3 hr chart. I would expect a dip even if the market is headed up long term....
Comment:
Target hit