Weekend July 24, 2022
I don't know that there is a lot to add to the last few posts.
Stocks look a short term pullback is in order before atempting to take out the early June high at 33,250.
Bonds are still deciding whether a rate hike will send prices lower but TLT was up Friday. fed will make its announcement Wed July 27.
The Dollar is over bought but Euro still weak with the weak EU Economy now dependent on Russian natural gas
That strong dollar seems to be holding back gold and silver.
Crude oil is weaker as current prices square with much lower distant prices.
this chart explains the run up in NASD prices and my thinking that we need a pullback here.
Onyl 20.8% of SPX are over their 150 day MA
I was a bit surprised that
his indicator was still this low. But this suggests we are still in bear market territory with the indicator well below 50%.
I don't see the article now but earlier today Yahoo.com noted the numbers of protests world wide even including farmers in the Netherlands.
Ford will lay off 8,000 to fund its EV Program so much for the idea that EVs create jobs.
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