Wait til Apple has earnings next week.
Apple 200….Market all time highs.
Make sure your long before that one comes out !!!!!!!

If the Dow ever does have a down day….BUY THE DIP !!!!!!

Since June 1 Financials XLF are up 12.4 %

Looking at the pattern, its been 1 small Red day followed by multiple bigger Green days.

Thank you for the insight Randy. I’ll keep you as my pulse, as always.

Broader participation in the market…rally spreading out to the troops.
73.55% of S&P stocks above their 200 day moving average.
86.48% of S&P stocks above their 50 day moving average.
Good news if you’re a bull.

My reply to an update request on wheat earlier today: https://rightsideofthechart.com/restaurant-leisure-analysis-trade-ideas-7-25-23/#comment-28796

Personally, I closed out silver yesterday since we had the FOMC decision today & ECB to follow tmrw.. Too much risk/uncertainty with the $USD & EURO until those are out of the way but I will follow up with analysis on the metals tmrw once the ECB (likey) hike & stmt is out of the way

Can’t speak to a “recession” trade as that is too macro & too uncertain (i.e.- when & how bad the next recession will be). What I can say & have been saying with a fair degree of conviction is that the R/R for tech & semis has been very poor & there are a lot of much better (bullish) looking individual stocks & sectors. As such, I continue to favor being short tech (XLK) and semis (SOXX) while long the most bullish sectors, stocks, and other asset classes (commodities, etc.). If & when that outlook changes, I will do my best to convey my thoughts asap.

“Massively wrong on meta”…LOL. A) Quite a bit of hyperbole as META closed less than 7% higher in the AH session tonight…run of the mill post earnings move for one of the big tech stocks & weigh or net out that gain against the post-earnings losses on the others that I predicted over the past week (NFLX, MSFT, TSLA, & now CMG today closing down almost 9% in the AH session from the 4 pm close. GOOGL was predicted a likely pop first (so far today) followed by a drop.
B) In this very same video above I clearly stated that the AH trades in META won’t matter & that I was/am expecting a red close tomorrow and/or in the coming days to weeks. What matters most is how the big tech stocks act collectively in the coming days following earnings, not just one or any immediate knee-jerk after-hours pop or drop.
With that being said, let’s see how the big techs trade into next week with some big economic released on the calendar plus AAPL & AMZN bringing it home with earnings next week.