Tuesday, January 9, 2024

Trying to make sense of yesterday's massive rally

 The number one reason stocks rallied on Monday, is the topic I touched on yesterday (linked below): 

Pump N Dump Markets Continue into 2024 - Happy New Year!


Another reason we saw stocks rally yesterday, is that it was the 1st working Monday of the new year, and if fund managers want to keep their jobs, they have to put money to work. 

I can't complain, because I had a feeling they would storm right back into beaten up tech stocks... 
We also saw another killer trade in Natural Gas as it rallied 4% off the lows of the day 

Nearly 400 impressions on the pullback target I tweeted out first thing yesterday morning.  
That means Natural Gas has become the new meme trade, and is too hot to touch. 

Funny thing is that as the global economy - from Germany to China - continues to contract, markets continue to trade higher, just as they did in 2007, and that leads me to believe that markets may be at a tipping point. 

Germany is the thing to watch as the lame stream media chooses to ignore the developing situation there. Makes me wonder; "what else are they choosing not to report"? 

$DAX (Germany) - The short term chart looks like a classic suckers rally. Perhaps this is only the beginning in wave A (a-b-c), but I'm not taking any chances. 


France - Same thing. Weak action after making new all time highs. 

$GDOW Global Dow Same thing 

Take Care, 

AA 



No comments:

Post a Comment