$AMZN blowoff short into seasonal selloff
Updated
Seasonality ends for June somewhere around the FOMC statement with a slight pullback into the end of the month. This looks like a classic blowoff wave here and we may need to come back to test previous support.
I predict that the buying frenzy into this FOMC statement in tech and banks was predicated on national reopenings as well as the seasonal effect in election years.
I predict that the buying frenzy into this FOMC statement in tech and banks was predicated on national reopenings as well as the seasonal effect in election years.
Note
DJI in election years shows a slight pullback near the June FOMC into the end of the month before resuming the buying trend. Note
Yield curves are dropping fast today with seasonality, not good. Note
Bond 10YR seasonality shows a big buy around the June FOMC into the summer Trade closed manually
Trade stopped out break even. Short tech, get wrekt.
Find the edge.
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Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
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