sp'weekly8
Summary
So...a second day of chop, but this won't last forever.
However, without getting lost in bearish hysteria, we do have 8 green candles in the current rally, with ZERO sign of it ending in the near term. Typically, we might see 2-3 blue candles before some kind of more significant downside.
Looking ahead
Wednesday will see the latest ADP jobs data, but perhaps more importantly, the latest Fed beige book will be issued (2pm), and that will certainly renew attention to what GDP for Q2 might be.
*next sig' QE-pomo is not until Thursday.
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The following update by Mr Long was posted on YT today, although yes, it is a month old (subscribers come first..after all!)...
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I remain on the sidelines, and right now, have little interest in getting involved. The next FOMC of June'18th might offer a far better re-short level, somewhere in the sp'1940/60 zone.
Goodnight from London