Yesterday started as an up day for US stocks but sold off steadily into the close & finished a bit lower on the day. Today is looking like a similar pattern with a positive open & steady sell off.
Here is where we sit currently
& the choppy trading action of the past couple days. Here is the Dow
S&P 500
& the Nasdaq
The choppy trade trending down has provided some intraday volatility to try & capitalize on if you like short term trades, but I would not go long at this point. Too many talking heads in the media pushing the share buybacks to the moon narrative. Smells fishy 👃 🐠
Bitcoin sitting near the bottom of the 6k range where it has been for quite awhile. If I were a bitcoin trader I’d probably buy in the low 6’s & sell in the hi 6’s till something in the bigger market caps, I.e. bonds & stocks breaks.
The dollar just keeps getting stronger & stronger in 2018 & not backing off.
Stronger dollar tends to lead to weaker commodities. Gold & silver are suffering a little, but gold trying to hold onto the 1230 level. Gold & silver have been holding ground well while the dollar has been creeping up. Should be a good sign for metals.
& always good to keep an eye on bond yields, there is a huge amount of paper in that stack
Us yields creeping up, the higher they go the more selloff pressure gets put on stocks. Call it the great institutional yield hunt.
Midterms are right around the corner & the potential false flags are stacking up in the news. There is huge potential for increased volatility in the next week & rest of year.
Supreme Leader POTUS is in the news saying if the dems win the market will crash. Probably the most blatant attempt at market rigging I’ve seen in my lifetime by a potus, there usually much sneakier than Trump.
Great time to be paying attention if you can sift all the nonsense out of the way!
Thanks for reading, Stay Smart Steemit