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Another Bullish Setup 7/28/21

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That is, if they clear 4400

With a 30 minute lag this chart doesn't show it yet, but as of 4 AM in Noo Jork, and 10 AM in Madrid, Paris, Frankfurt, and Warsaw, go figure, it's there. Now they just need to push it until NY gets into the action. 

But of course, it doesn't mean much. Today is Fed day. What happens on Fed Day, stays in Fed Day. We return to the real game tomorrow. 


Meanwhile, big picture stuff. 

Prices Show Us Not to Argue with Mother Market

Be Careful of that Yellow Stuff

Chart Picks – Dipping Two Toes in the Meat Grinder

How the Fed and Treasury Rig The Debt Ceiling Roulette Game Matters

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I just feel the risk/reward is skewed to the downside. Jay is throwing cash at all time highs. What would make them take off from here? But any whiff of bad news could get ugly fast. Bad news doesn't have to be in the US either. I keep close stops and holding pretty even but when the swoon comes I will be short.

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