It was a pretty dreadful week as far as trading goes, unless you knew where the next sector rotation was going to be. The latest one was in small caps, and REITs, and I think REITs may still have further to run, and I'll be tweeting out any movement I see in that sector, at today's open.
As I tweeted out on Wed., I've been piling (401k money) into small caps for the past month and a half, so I'm happy to finally see some action there. I'm just uncertain as to how much longer this can last?
$RUT Russell 2000 (small caps) Trades into a right shoulder, on a mature head and shoulders pattern.
Does this look like a "bull market" to you? More in a minute.
I'm thinking about where I may find a safe place to hide, when the market pulls back?
I'm thinking treasuries:
Bonds are looking very attractive now that gloomberg is reporting on high yields again vs #stocks
— Veteran Market Timer (@3Xtraders) June 8, 2023
Red Flags
The Lame Stream media is announcing a new "bull market" this morning, which is bearish.
A Bull/Bear market as defined by the Lame Stream media is nothing more than a smoke and mirrors term for, 20% correction.
More Red Flags
I noticed this red flag while I was checking US futures early this morning:
It's the CNN market sentiment indicator, and it really should be pinned in the red, rather than the green; in order to warn unsuspecting investors.
Perhaps sell orders are being stacked?
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