SCENARIO FOR A FAILED BEAR FLAG NEXT WEEK
7:47am
spy daily
since i just do not believe we're done with spy 93 on the wimpy effort made so far..
some econ data due out
- tues: consumer confidence. media hasn't scared crap outta mrs. sixpack in a while. so maybe not big ticket yet, but they spent
- weds: existing home sales. expectations don't even exceed frigid feb's print
- thurs: jobless claims. slight increase expected, but chart shows lower highs and lows w/4wk pointed down
- fri: gdp. well, you gotta look at the chart. imo anything still showing depression 2.0 with tsy yields where they are doesn't add up. regardless of what you think you know, do you really want to bet against what bond traders have actually done? that money is going to work somewhere
max pain
mr market shows the shorts a flag under a daily trendline, and squeezes
way too many strong sell signals for an engineered meltup environment. its really nothing more than that and a decade of acquired 'skin in the game' intuition guiding this little news/ta prognostication
positions: stocks, sds, basis 62.81. pairs, short eur/usd, long aud/jpy, nzd/usd and aud/usd
