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The three main equity indices mooned once more yesterday and then hit the deck, indicating a potential selloff was en route. Personally I added a little short exposure, as alerted at the time to our paying members by way of our real-time Slack channels.
Come the morning, AAPL was up, MSFT was looking like it could do well, the S&P500 looked like it would be glued to the 4500 zone courtesy of monthly options expiry, and all in all, not much of a day to be running across the road in front of Mack trucks trying to gather short profits. I took short gains on all four indices early in the day - nothing much but free money is free money. The Russell then promptly dumped, of course! I added a little TNA as a result.
As we approach the close, the Russell is beginning to recover from its major acts of self-harm today, and the other indices are in nothingburger territory. Whilst one can construct many arguments as to why the Yuge Move in recent days will be sold off and retraced, the fact is that so far that has not happened. And so we keep looking upwards until there is a reason not to.
Below we walk through our latest take on the market.
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Let's Get To Work
Paying members, scroll right down for our latest take on markets. As always we look at the 10-year yield, the S&P500, Nasdaq-100, Dow Jones and the Russell 2000; we consider long-term and short-term outlooks, and we lay out staff personal account trading plans in each of the indices. We add Bitcoin and Ether futures pricing for good measure. And - NEW! - we now include the 3x index ETFs TQQQ, UPRO, UDOW and TNA.
Note - to open full-page versions of these charts, just click on the chart headings, which are hyperlinks.