You need a PLUS account to view this content. Try one month of PLUS for FREE.
Already have an account? log in
Melting Up To 4700?
As you might've noticed, US equities are demonstrating an unshakable propensity to melt up into the summer heat wave currently threatening to melt down the planet.
Figurative and literal buy-in for some version of a Goldilocks/soft landing narrative for the US economy is growing. Indeed, according to the July installment of BofA's fund manager poll, "soft landing" is the odds-on favorite outcome at this juncture, even as many professional investors remain broadly bearish.
As the second half da
the top will be in if Apple buys Disney. That has been my “tell”. When companies start making irrational decisions then the end is near. I have seen a couple of article titles suggesting this could become a reality. I didn’t read the articles because I refused to be click baited. If there was any truth to it, apple would be tanking instead of being at all time highs.
seriously thought, who knows where the top is. At this point, just manage risk. and ride the rally until support is broken decisively. Everyone is going to have a different criteria I use moving averages, some people use fibs or some other metric. the 50 day is 5.5% below and the 20 week is 7.5% below. be able to withstand a move to that level in two days with a vix spike of 75%. That is easier to do if you have been on the rally train since Oct or Dec or March. Don’t get offsides. the train will come back. Being able to wait is the advantage we home gamers have.