Timing Stock Market Successfully
  • Home
  • Members
  • Testimonials
  • Subscribe
  • Contact
  • Home
  • Members
  • Testimonials
  • Subscribe
  • Contact

Signals & Trading Plan for Wednesday 6/12/19

6/11/2019

0 Comments

 
Members click here for full article.
(It is currently free to join our membership.)

Here is an excerpt from our trading plan.


Dip1 has arrived
Yesterday evening 6/10 we wrote: “even if Surge1 stretches upward a little more tomorrow, we don’t think it’s a good idea to chase it up from here.”  

Surge1 did stretch upward when $SPX $NDX $RUT gapped up this morning.  But then they promptly dropped. By 11 AM EST, we saw a number of confirming factors that Dip1 was starting.  


In “Market internals” we will provide more explanations of what we saw as confirmations.  But first, let’s look at the big picture.

Rate cut is not guaranteed
Rate cut is not guaranteed, especially in the upcoming FOMC meeting next week June 18-19.  Goldman says today that “although it is a close call, we still expect the FOMC to keep the funds rate unchanged in the remainder of the year.”

Over the last three weeks, as JPMorgan, Barclays, Credit Suisse, BofA and others have been saying rate cut is very likely this year, but Goldman has not joined in this chorus.  

All this bullishness since June 4 has been due to the Fed’s promise of a potential rate cut.  Not getting one in June, or not having this promise reinforced, may result in another nasty tantrum by the market.   But the Fed is facing uncharted dangerous territory in trying to maintain their independence and the market’s trust in that independence.  In many ways, they are damned if they cut rates, and damned if they don’t.

All of this is a roundabout way of saying that next week’s FOMC meeting on June 18-19 is gonna be a doozy.  Keep that in mind if you are planning to build any long-term position.

The rest of this article covers:
Market internals
Dip1: support and resistance levels
Trading plan

Register here to read the rest of the article.  All free.

0 Comments



Leave a Reply.

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019

    Categories

    All

    RSS Feed

Copyright (c) 2019-2022 LOOK Systems LLC
All rights reserved.