Implications and Outlook
1. The second trading week in August is historically calm, however, Thursday looked like far more so. Impressively, nevertheless, as the players continue to keep pushing at record highs as America continues to be the only spot to be.
Very worthwhile to notice that in the closing half an hour on Wall Street cash trading, we have seen its DJI and the currencies that suffer. The DJI finished on its day session low but most importantly and so did the Euro Dollar, British Pound, and Japanese Yen. If this type of go is sustained by Today's data (Report on consumer retail prices for the month of July), this will likely verify the move has only just begun.
2. The stock market at this point is already at fresh highs - it just has not made the news yet due to the fact particular indices - such as the DJI - haven't confirmed.
That is where Trade Selector Signal traders and investors have a leg-up on other investors and traders. The thing is that we use something I stumbled on long-ago to get the Truth of Trading Markets - which by the way is often not evident in the news headlines.
3. The retracement towards Mean Support 25322 is undoubtedly will create bullish bias targeting newly created Mean Resistance of 25630, and Key Resistance 25706 with a continuous journey to Index Rally 25610.
4. Current Index Strategy Bias: Bearish 60 / Bullish 40
1. The second trading week in August is historically calm, however, Thursday looked like far more so. Impressively, nevertheless, as the players continue to keep pushing at record highs as America continues to be the only spot to be.
Very worthwhile to notice that in the closing half an hour on Wall Street cash trading, we have seen its DJI and the currencies that suffer. The DJI finished on its day session low but most importantly and so did the Euro Dollar, British Pound, and Japanese Yen. If this type of go is sustained by Today's data (Report on consumer retail prices for the month of July), this will likely verify the move has only just begun.
2. The stock market at this point is already at fresh highs - it just has not made the news yet due to the fact particular indices - such as the DJI - haven't confirmed.
That is where Trade Selector Signal traders and investors have a leg-up on other investors and traders. The thing is that we use something I stumbled on long-ago to get the Truth of Trading Markets - which by the way is often not evident in the news headlines.
3. The retracement towards Mean Support 25322 is undoubtedly will create bullish bias targeting newly created Mean Resistance of 25630, and Key Resistance 25706 with a continuous journey to Index Rally 25610.
4. Current Index Strategy Bias: Bearish 60 / Bullish 40
The atmosphere was set by futures which accelerated as soon as the cash market opened. At one stage we saw the DJI up nearly 450 points, its largest daily gain in five months. Apparently, the talk that trade talks are to be resumed started the rally, but then some earnings beats (Walmart posting) helped accelerate that momentum. As the market was closing on Thursday, the DJI less than 1000 points, the NASDAQ only 130 points, and SPX (S&P500) is only 30 points away, from record highs. The demand for US Dollars continues to expand and the case for owning it just getting better by the day. Even if you are not yet convinced, what other options are there!