Intermediate term, still nothing to add:
In conclusion, no material change from the past few updates. Trade safe.
Monday, August 9, 2021
SPX Update
Still nothing to add, and I am still inclined to suspect we'll see a more complex near-term correction. Please keep in mind that complex corrections are borderline impossible to predict -- so, again, if SPX can sustain a breakout over upper black, then that might call this view into question:
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See no such drop. Oil retreat and dollars very slow recovery along with basement yields on 10 year note guarantees no decent drop. In fact the economic conditions are a slam dunk to explode on the upside as forced vaccines for party goers makes employment, costs, GDP, inflation all surge dead ahead. Initial response with Wall Street will be positive. Breakout in OIL, Dollar, 10 year bond yields will eventually cause a CRASH! In the mean time, enjoy the show!
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