Market Musings
The week ended in another upside move. Although with most
indices under water for the year, perhaps, it is just another
bear market rally.
The YTD data for most major stock indices remains in the red.
The Pro Farmer Crop Tour begins August 22 and
should provide important data about 2022 crop yields for corn and
soybeans. There is considerable concern over crop damage from
heat, unusual rain and other climate concerns.
Inflation data continues to be worrisome and the #1 concern
among voters headed into the mid-term elections.
The FED has indicated another rate hike at the next meeting of
.75% which should help crash the housing market even further as
prices in most markets are already slipping.
The Acc/Dis chart has risen past the red zone thanks to July's market uplift but
setting definitive action points for trading positions will
be key to retaining profits in this market.
Remember -- "Only purchasing power counts!"
It is difficult to find long-term trading opportunities with the
future so uncertain. By any reasonable measure, this market is
dangerous.
Be careful ....
To review the 08/13 FlowChart, click
here.
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