WEEKEND REPORT JULY 29

With all of the detailed daily reports pointing out just about everything there is to look for, I like the weekend report to usually just be more of a big picture look at what happened over the past week and what we can expect going forward.  Well, there is just too much that stands out to me at this time, so I will cover the bigger picture and some of the smaller details too.

 

SPX - I understand the "buy the dips' Theme in a bull market, but is every dip being bought profitable or easy to buy & hold? This week we saw a market slam down on Thursday, and Friday had a small reversal.  Was that 'Buy the dip" on Friday? Notice June 12th.

 

The timing on June 12th for that slam was also similar to this past weeks slam, and price went sideways to lower for 4 weeks into a dcl. ( Each 5 candles is a week of trading). Buying that dip made no money for  weeks actually.

SO NOW LET'S CHECK OUT THE NASDAQ ...

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July 28th – Bungee Markets

We all watched the markets slam down quickly mid day on Thursday, and then they rebounded back a bit as the day went on.  Bungee Markets are not all that fun to ride, so let's take a look at our Thursday trading...

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POST FED THURSDAY – SO FAR SO GOOD

We did see a Bullish reaction in Gold immediately following the Fed decision, so let's take a look at a few charts...

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