Stock Market Weekly Update View (5-13-18)
Every week I like to take a step back and look at a broader timeframe of charts in certain sectors. Many people get caught up in the day to day moves and can’t see the forest for the trees.
Hell, I even found myself thinking “How can I be this bullish right now this late in the cycle?” Well, that is because price is the only thing that pays and sentiment is a huge factor. Sentiment has not been lined up enough and people were running for the hills regarding Korea, Trade Wars, Stormy, Impeachment, etc.
That is not how tops are made. So zoom out on the S&P you can see that the trend is still well in tact (for now) and breadth is i dicstig higher prices ahead.
The 200 Day MA has held its ground and did it once more. With the largest cap stock breaking out and printing ALL TIME HIGHS (which is a long time), it is safe to be moving assets back into stocks in the intermediate term. I am expecting a sideways to down week here that should be bought in the coming weeks.
There is no more QT by the FED on the horizon for at least another week and a half so expect higher prices.
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Unbelievable, I look at the futures as they open up in Asia, and boom, like clockwork, the DOW is up 110 points and the precious metals are flat. Manipulation at it's best.
very likely..see my post on the housing bubble and shocking increase in lumber ans oil's big imbalance...trouble ahead...thnx!
Lets see how steem does as it it is rising again!
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