DISCLAIMER: This note is intended for US recipients only and, in particular, is not directed at, nor intended to be relied upon by any UK recipients. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Cestrian Capital Research, Inc., its employees, agents or affiliates, including the author of this note, or related persons, may have a position in any stocks, security, or financial instrument referenced in this note. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice. Companies referenced in this note or their employees or affiliates may be customers of Cestrian Capital Research, Inc. Cestrian Capital Research, Inc. values both its independence and transparency and does not believe that this presents a material potential conflict of interest or impacts the content of its research or publications.
Move Fast And Break Things
Markets in bottoming phases always look unutterably bleak and broken. As if any green that appears on the screen will soon evaporate once more. And this is how Friday last week played out. The Nasdaq managed an inside day and a +0.5% move up; everything else was down.
Many forms of chart method, our own included, suggest a low ought now to be in for the indices. We may yet see more short term weakness but I believe that to be merely time passing whilst smart money continues to accumulate. The weakest index continues to be the Russell 2000.
Charts in this post are good to Friday's close (longer term ETF charts) and the current Globex trading session (it's around 8pm Eastern at the time of writing). Monday we'll publish the normal Market On Open note.
Let's Get To It
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.
Note - to open full-page versions of these charts, just click on the chart headings, which are hyperlinks.