Allow us to explain what we mean by this chart.
1. The market was in a perfect rising channel from the beginning of 2019 to 1-May. However the index didn't bounce back after hitting the bottom of said channel on 1-May.
2. Still, the market was in a wider rising channel until early June.
3. Ideally for this channel to continue we'd like to have seen the index...
This is a follow up to GAMS' first post.
The Fed's 25bps cut, coupled with hawkish verbiage, added more weight to the already dwindling American corporate earnings and further confirmed GAMS's bearish view towards the rest of 2019.
Strong USD will create strong headwind to heavy-weight components in SP500 like MSFT, AAPL, etc who rely heavily on foreign...
Japan has long lost its charm to the international trading community. It has been a boring place to trade in for the past two decades, pretty much. In a mature market like Japan, you can't expect explosive growth like you can find in China.
However, this market offers a great source of diversification and income potential, if you know where you are looking.
Below is technical analysis based on chart readings. Refer to chart for macro commentary.
SP500 meaningfully tested 3000 five times in the past 12 months.
First two formed an M resistance - didn't break through.
Third time was also two very close attempts - didn't break through.
Finally, in July, we have seen 3000+ twice. One's already past us, the other one...