Agreed. W offers an objective short entry on this trendline break

Despicable.

If I had the money, I would get into renewable energy business. I joked to my colleagues if I was Prime Minister or got into politics, I would introduce a law that makes all properties mandatory to have solar panels in the UK.

Look at Spain in recent headlines. Part of it talks about their reduced energy bills across the country.

Although the bounce back to the downtrend line off the highs on Friday provided an objective short, IMO, as I said in the video, there still isn’t enough evidence to be positioned aggressively short. Additionally, I reiterated my preference to continue what’s essentially a market-neutral positioning via a long/short portfolio (short select indices, sectors & individual stocks while long individual stocks, sectors, and commodities with the best-looking R/R profiles & constructive charts.

Monday will likely give us some insight to the next near-term direction in the $NDX if we either gap, run, & hold above that downtrend line it hit & parked at on Friday…or… gets rejected off it, especially if the Q’s also take out the next support levels below.

To your 1st question, my guess would be about a 60-70% chance today’s Powell-pop gets faded by next wk, but more importantly, one can just wait to see if it does (or doesn’t) & then act accordingly if they don’t agree with or want to play those odds by shorting it. I still can’t make a case to be aggressively short, or aggressively long, for that matter, instead preferring a mix of the best-looking longs & best-looking shorts for now.

#2) On face value, rate cuts are bullish for the stock market as that lowers the cost of capital (borrowing $$). However, WHEN & WHY the Fed cuts rates is quite often ignored or misunderstood by the majority of investors.

As I’ve covered in the past, in the vast majority of times, once the Fed completes a rate hiking cycle & embarks on a new cycle of cutting rates, recessions have usually followed.

Additionally, once the unemployment rate has bottomed & CLEARLY started to rise from the historical low-end of the range (as it now has), that has always been the start of a trend change with a recession soon following as per the chart below.

#3)Yes but I’d more so say that will be the technical catalyst that starts a more impulsive sell-off

I’ll watch for the backtest and maybe add it to the TU, i like the fact that all these canadian telecoms look similar and fairly constructive.

nice chart, i think i’ll start with a small long and see how it goes

thanks randy, i was asking myself why i didn’t get in earlier

Also, why in your opinion, do people treat rate cuts as magic. No layoffs will be halted because of powell’s speech today. My buddy who has been looking for work for 9 months still is unemployed. My employer is still paying $50k in tariffs per month.

Do you think there will be a small panic if these Fed gains don’t stick?

BCE daily chart with overhead resistance levels (potential targets) and support levels, which would provide objective long entries or re-entry on a pullback. Another of so many stocks that put in big divergences at the April lows when everyone was freaking out about Trump’s tariffs & we were covering shorts & going long.

BCE also recently took out the 200’s & could backtest them on a pullback to that uptrend line, providing an objective entry there, if so.

I don’t have a strong opinion on TU but here’s my daily chart with some key levels.

Like sooooo many stocks, RCI was a very nice looking long with big divergences at the April lows but now coming up on pretty solid resistance with negative divergences building. As such, personally, I’d be a sell here and/or/if/when it breaks down below this rising wedge pattern (upper-most uptrend line). Pullback target shown with arrows.

FF daily chart with nearby price & downtrend line/falling wedge resistance levels that would trigger buy signals if & when taken out with potential price targets, if so, shown at arrow breaks.

ADM put in a nice, big divergent low in April & has been running strong since but now getting overbought with pretty significant resistance overhead. As such, I’d be more concerned about booking profits or raising stops to protect profits at this time vs. adding any more long exposure as the bulk of the initial run off that big divergent low has most likely already been milked. Daily & weekly charts below with some additional resistance levels that could provide longer-term targets, IF & ONLY IF, ADM can solidly take out that primary downtrend line it is currently testing with a solid weekly close above it.

also looking to enter long on FE, RCI, TU or BCE.