11:34
Unknown
There are many negative forces in play which may impact TAPE in a negative way.
First, momentum is broken & we made lower lows, not a healthy technical picture.
Pullbacks are minimum 4 percent area, we are far from it.....
Fed minutes on Wednesday may have language change to indicate stronger US economy but will word it cautiously by highlighting European & Chinese weakness...net net no change in timing of rate increase in this minute.....which will be a positive for the market.
Thursday is "Scotland vote"..i expect a NO win.....another positive for Euro & markets around the world.
Friday is "BABA" day...another huge positive...
SO negative TAPE until Wednesday 2 PM...then positive close Wednesday, Thursday & Friday....
Option Expiry may take its toll until Wednesday minute release.....
SO....plan according to early week weakness & positive from Wednesday close...
It is never easy on Wall Street, who could have guessed about Scotland issue ?
Nasdaq is looking healthiest among all indices which is a good thing, thanks to BABA fever....
Dow is the weakest and made deeper lower lows also, not a good thing, lower lows in Dow & S&P 500 were made on higher volume another red flag.....
SO..what to do is the question ?
Again, keep booking profit & buy the weakness which has worked for last 5 years....
Stay with strength & watch closely any weak stocks in your portfolio.
By end of the weak, we may be taking a deep sigh of relief from world events.
Good luck with your own strategy & analysis.
BLOG does NOT give buy or sell.
Saleem
First, momentum is broken & we made lower lows, not a healthy technical picture.
Pullbacks are minimum 4 percent area, we are far from it.....
Fed minutes on Wednesday may have language change to indicate stronger US economy but will word it cautiously by highlighting European & Chinese weakness...net net no change in timing of rate increase in this minute.....which will be a positive for the market.
Thursday is "Scotland vote"..i expect a NO win.....another positive for Euro & markets around the world.
Friday is "BABA" day...another huge positive...
SO negative TAPE until Wednesday 2 PM...then positive close Wednesday, Thursday & Friday....
Option Expiry may take its toll until Wednesday minute release.....
SO....plan according to early week weakness & positive from Wednesday close...
It is never easy on Wall Street, who could have guessed about Scotland issue ?
Nasdaq is looking healthiest among all indices which is a good thing, thanks to BABA fever....
Dow is the weakest and made deeper lower lows also, not a good thing, lower lows in Dow & S&P 500 were made on higher volume another red flag.....
SO..what to do is the question ?
Again, keep booking profit & buy the weakness which has worked for last 5 years....
Stay with strength & watch closely any weak stocks in your portfolio.
By end of the weak, we may be taking a deep sigh of relief from world events.
Good luck with your own strategy & analysis.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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