When the Equity does not move along with the other three indexes, which are at extreme levels, I am not sure if risk on is a wise idea.
2016 level of HYG is likely and i don't see it getting better than the last one at macro level so far.
HYG over IEI ratio shows the Fed needs to act immediately.
two years' consolidation and broke up was invalidated by the selloff in two weeks. give the current macro environment, BAC may not be ready for another breakout any time soon.
longs need to be patience
Costco must hold these levels. Else further correction into the weekly 50ma is likely.
$baba must hold above the previous high. else further consolidation is necessary. Still holding the bull trend.
assuming bonds are around the top at the moment. spy will expect to have more downside
5th time is a charm.
but how many times can this support hold?
AMD is due for a correction
expect to get to 160 if 146 holds.
probably building a h&s
if TLT can make a new high that's another leg up. targets attached
target 115 by next calender year. it is going to be very choppy.
so far FDX is forming a bear flag.
if you are bearish, you can do a calender spread, buy a put after ER date, and sell a put before ER date.
I am going to take profits here.
