Pre-Market July 18 6 AM PT
In our blog of Wednesday, we pointed out that even though DJI and SPX were making new highs,
the market internals were weak. With sentiment very bullish and one sided, the market could start going down any time. Yesterday the market just needed some excuse to go down and gave a SELL signal on SPY, and Nasdaq. DJI & SPX can go back to recent highs before the decline resumes.We already got a SELL signal on RUssell 2000 on July 7 in accordance with our book. The biggest % decline since July 7 has been in TNA and biggest % advance since July 7 has been in TZA.
Gold may go back to recent highs after some correction today.
DJI
SPY
NASDAQ
IWM
TNA
TZA
GLD
GDX
NUGT
DUST
We see a big bubble being formed in interest rates.Yesterday 20+ year bonds almost made a new high.
TLT
TMF 3X long bonds
In our blog of Wednesday, we pointed out that even though DJI and SPX were making new highs,
the market internals were weak. With sentiment very bullish and one sided, the market could start going down any time. Yesterday the market just needed some excuse to go down and gave a SELL signal on SPY, and Nasdaq. DJI & SPX can go back to recent highs before the decline resumes.We already got a SELL signal on RUssell 2000 on July 7 in accordance with our book. The biggest % decline since July 7 has been in TNA and biggest % advance since July 7 has been in TZA.
Gold may go back to recent highs after some correction today.
DJI
TZA
TLT
TMV 3 X short bonds made new lows
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