Below are nine important ETFs with some remarks on my part in the caption area. This entire day was such an inexcusable “meh” that I have nothing left to say.
I have June puts on this. I am counting on the failed channel to be the key.Here is one of the cleanest tops I’ve ever seen in my life.The Eurozone is acting like peace has been declared, even though the war is worse than ever. In any case, the risk is to push above that lower horizontal, which would open up the path to that higher horizontal and, at that point, much stiffer resistance.Gold, bless it, is hanging in there, and healing itself from the damage of the past couple of weeks.Interest-sensitive funds got hit today, such as high-yield.This is pretty much a carbon copy of its twin brother EFA, shown above.The small caps have a very clean lower range, and we got very close to the top of that range on Monday.The junk bond fund sold off today, although not with the drama that TLT did.
The NASDAQ is at a pretty clean level of resistance.
In any case, today didn’t do a damned thing to clarify this market, in spite of Powell declaring he would crank up interest rates with abandon to defeat inflation. At this point, global thermonuclear war would guarantee new lifetime highs, just before we all perish.
