Market

[Pascal]

Still no short signal for now.
Probability is about 50%.



Pascal

[Pascal]

A sudden drop in the 10Y points to a market reversal or at least a tentative reversal.


Pascal

[Pascal]

The QQQ is rather weak with selling on GOOGL, AMZN and MSFT, but AAPL looks to be under accumulation.

Anyway, the 20DMF is not negative here.


Pascal

[Pascal]

This bounce does not seem to be attracting much money for now

Pascal

[Pascal]

Still money moving in the equities markets today.

Pascal

[Pascal]

Yesterday, the 20DMF turned to cash from a long position because it crossed below the -0.11% level while the Cumulative Tick was above its average.

We can below that this morning, the 20DMF turned back toward the Buy level



However, after the Trump Tweet on the Chinese trade issues, the market turned sought again, but this time, the Cumulative Ticks moved below its average line, triggering a short signal.



This does not look good going forward: we are in the middle of the earnings season and the Fed is done lowering rates until probably end of the Year. The question now is what will support elevated equities prices?

[Pascal]

Not good to see an intraday oversold bounce attracting sellers


Pascal

[Pascal]

Below is the list of today's long and short ideas.
We can see that except for the BOV, all the long ideas are higher than their highest entry point.
We can also see that 6 out of 7 short-a-bounce type of idea are higher than the entry price.

This indicates that the whole market is bouncing higher. It is not a good idea to enter new individual positions here.

Tomorrow will be a dull day because Monday is holiday.

Hence, no new trade for me today and tomorrow. Better wait for some new opportunities next week.

Note also below that NQ8 stocks are attracting heavy buying even after the gap up.


Pascal

[Pascal]

Market weakness is bought today.


Pascal

[Pascal]

Accumulation going in a straight line.
Machines working.


Pascal