It is not that we have the trends of the past few years, or the follow-through of the buy everything market, or even uptrends… this is a different market, and it requires an approach that acknowledges the challenges of chop and rate hikes. Here is a textbook example of what to look for and how time and volatility are your friends.
As the end-of-quarter retracement possibility is one to consider, what am I doing in the meantime to take full advantage of this market behavior.
It’s the battle of the central banks. Here’s what I’m watching.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
That certainly is my big question, when will we limit down?… And if we don’t do we have a week long rip higher before it’s time to short again? It really is a hurry up and wait. So, if you’d rather pay attention to energy or just crude in general, I have some ideas for you here.
The S&P 500 let go of its Voodoo fireline last week. This week, it reached the first target of the Voodoo treeline and what happens at that level will likely hold the clues for what to expect next.
We got through the week, enjoy your long weekend, but before you do, check out this video for how I am treating next Tuesday.
