Replies to post #40673 on OPTIONS TRADERS CO-OP

[gdl]

I can't catch this run even when i saw the start of it. All I have is assumed terminal points. I hope it all plays out in July.

On a momentum basis i have SPX at 3095 and DOW at 27,414

The China Truce seems to mean a limited acceptance for the Chinese telecommunication giant on a temporary basis and no new tariffs. market reacting as if we have clear skis head. they also insist on the FED cutting late July. When a market as this needs desperately a rate cut when we are only at 2.5% I can assure you they too see a recession around the corner. Delayed or immediate? Depends on china and the EU. they will lead us down the path.

Only when i see a clear entry point to bet this rally i will. The next major news should be Mueller. the GOP is gearing up for a smear campaign. All Mueller has to do when questioned is tell the truth. if asked was obstruction evidence enough to convict anyone else besides the president that alone should be a major event. if asked about abuse of power or involvement with the Russians he can spell out how numerous and secretive his whole administration was to conceal it. The list of FACTUAL evidence in his report is so damning I can easily see why the GOP members refused to read it. We live in a stark dark comedy where satirical politicians are not yet seen by many as cartoon characters playing a part. This is a new movie one where it combines Dr. Strangelove with Being There.

Market analysis: Clearly in a bullish wave. A breakout one BUT the counter moves can be tricky. I do however expect any drop to be over within 3 days (IF) we are in the final wave up.

No entry point here so i sit on my hands. Good luck to the day trader, they will have much more luck because we seem to have broken out from consolidation.

Russel 2000 still is trailing badly and i doubt it will achieve new highs before the SPX and DOW hit critical levels. The Nasdaq while strong also has a while to go to hit new highs. I (do) expect them to continue to lead on this final leg and would be surprised if it didn't hit new highs also.