Despite All The Talk Of A Stock Market Selloff, New Highs Are More Likely. By Gregory Mannarino
At the time I am writing this article, Comey is testifying before the Senate "Intelligence Committee," (an obvious oxymoron). Although stocks are bouncing around of of every word out of Comey's mouth, stocks appear ready to move higher.
Let's look at several market dynamics which point to stocks rising in the short term.
- Cash is moving OUT of bonds.
- The "fear gauge" is falling.
- Crude oil is stabilizing, (after yesterdays plunge).
- The US Dollar is stabilizing.
- The Financial Sector is gaining strength.
- Comey, so far, has said NOTHING which was not already public knowledge. (No surprises).
FOR MY LIONS..
What this tells me (at this time) is the stock market appears ready to make yet new all time highs very soon., so let's capitalize on this.
*My summation DOES NOT mean we shouldn't be cautions and not hedge our trades!
Gregory Mannarino
On the downside you have a ~1 in 8 chance of a Labour win in the UK elections that would hurt the FTSE and probably impact US markets to a smaller extent.
Thanks Greg. You help me keep track of the pulse of what's going on in the financial world so I can make sound decisions with my investments.
Comey testified before the Senate "Intelligence Committee"??? How can that be? It's a known fact theres Not been any intelligence in DC for decades. That's a good one Greg.
Thanks for the update. Interesting times!
Very good information of the current situation of markets.
Yes, I think with your coaching this is looking pretty obvious to us. I moved some things around based on your call to anticipate an oil rise sometime in the near future. When that happens I suspect stocks to rise even faster.
Haha, Oxymoron alright :).
If i've learnt anything from you Greg it's that even if i dont think the fundamentals are right or if i have convinced myself that no matter what , the market is wrong and i am right. I have to trade the market not my opinion.
I will go broke proving to myself that i am right :) .
Thanks Mate. Upvoted and resteemed.
Excellent update @marketreport Brother Greg! Riveting testimony! Could be an interesting day for the market. Have a great day! www.traderschoice.net
OH yes! I'm getting ready! Thanks Greg!
Good analysis, the whole Comey story is a lot of hot air. Nothing else.
Yup, testifying nothing but hot air...nothing to see here.... move along👉