Thursday July11

/in /by

I'm thinking that you can probably guess by now what round 2 is, but I'll discuss what Round Two means as we get into our market review. I also have a special little 'lesson' in this report that I know you will enjoy, when we apply it to the Miners...

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July 10th – Waiting It Out

/in /by

On Wednesday, Powell will face the House Financial Services Committee for the first round of questioning from lawmakers.   The Fed will also release minutes from its June 19 meeting on Wednesday, and at this point, the Fed funds futures contracts are currently pricing in a 100% chance of at least 25 basis points of cuts.

Now let's look at our markets Pre-Fed Testimony...

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Tuesday July 9th

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SPX - As time moves forward the SPX still remains  healthy looking. It has stalled again, but if it moves higher we will likely see  a R.T. Daily cycle, and that would keep things on the bullish side.  My weekend report discussed 'break out to new highs' and various ways they play out.  For now, if you are long, you are still in the trade, stop at the 1/2 cycle low or raise it to the 10sma if you are more comfortable with that.

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