“OR, what the government allows to happen!”
We probably won’t know for another day, the ramifications of the E.U.
parliamentary elections decided from Thursday to today, on U.S. stocks
… a lot to digest here, nor what Trump’s comments from Japan concerning
trade will have … maybe it’s a good thing markets are closed tomorrow in
the U.S.
Directly below, this week’s 20 Day Range MA charts.
click on any chart to enlarge
Not one day last week did the SP500 daily range even come close to its 20
Day Range MA … not one … and in addition, a glance at the SP500 chart
above shows the daily widening from the NYSE range, which is almost
never a good thing from a trading standpoint … it usually means trouble
brewing in Asia, China in particular, and the negative effects on stock
prices the 16 ½ hours before the NYSE opens.
The news cycle has been outright horrible for stocks lately … not that it
matters much, cuz the “Plunge Protection Team” [PPT] sure doesn’t seem to
care … the SP500 still within striking distance of all time highs, although the
NDX100 has been hit harder. It’s like everyone believes nothing bad can
happen cuz of the “FED put”, so why not buy MOAR? … if that bubble gets
popped, look out below. Onto the week, we’ll see what happens.
Have a great rest of your Holiday weekend everybody!
-vegas
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