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First off, if Slope is acting odd for you, please read the prior post.
More substantively, as I stand here Sunday night, the markets are roiling. I’m not sure if it was Trump’s 50% boost to the tariffs he established only on Friday, or the Iran situation, or just a crazy-overvalued market ,but equities are down nearly 1% across the board (as of now, at least; you know how these things can turn).
The bulls aren’t going to let their 17 yearlong always-go-up market go without a ferocious battle. Even on a minute-by-minute basis, we can see the counterattacks, such as the /RTY, below, which was slipping away nicely until it started getting gobbled up. As of this composition, all the big equity futures are still down, but by embarrassingly small amounts.
Greetings, all. I first want to mention that we made a substantial number of improvements to our network setup last night, which seems to have really helped performance. If you see anything untoward, drop me a line, but I think most of you have probably already noticed how much better things are working.
As for the market, well, after a nice bit of selling this morning, we’ve got this to contend with:
I trust everyone is having a good long weekend. Let’s take a look at some major U.S. cash index charts.
First up is the NASDAQ Composite. My spidey sense is that we are going to break below that range before this month is over, which should set off a handsome sell-offf.
I reduced my exposure earlier today to a mere 68% and am watching from a safe distance as people fall all over themselves to buy equities. Don’t be so sure this is wise. The nature of the market has changed. I’d just rather not be overly exposed in front of a three-day weekend.
