Markets are in the heart of the dog days of summer. They are as quiet as it gets and making new highs.
Market Report New highs coming
Here we go again, markets headed for new highs. The rally rolls on with the lousy jobs on Friday adding fuel to the run higher.
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
Here we go again, markets headed for new highs. The rally rolls on with the lousy jobs on Friday adding fuel to the run higher. All expectations are the FED will continue with cheap money and basically 0 FED funds cost. It only proves that the FED is clueless and once will be wrong.
Last week markets came of the deck and came within one percent of all time new highs. Across the board we see all indices withing spitting distance of records. Many will give reasons that the markets will go lower however, the trend is up and there is no reasonable belief that this rally will fail.
Friday’s Jobs number was pathetic into a market that jobs should be exploding. The economy is opening and there should have been over a million new jobs. The problem here is the stimulus and lack of desire for many to go back to work. This is a sad state when government pays people with taxpayer dollars which keeps them from working.
The bullish symbols have had a little shake up with COST reversing directions from bearish to bullish. QQQ, TME, SPX and AAPL round out the top five. On the Bear side we see SPY, NKE, XLE, TWLO and PTON. It appears that tech is once again leading the way. Look for a record next week on light volume.
During this record run in prices long Calls has been the number one strategy each week for a record amount of time. As we look at the top 5 strategies for last week the top five were all bullish. The top five were, long calls, Bull Put Spreads, Bull Puts, Bull call Spreads and Call calendars. With the falling VIX markets are expected to continue higher.
As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.
Todd “Bubba” Horwitz