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Devastating Overnight Selloff Leads to What's Next 7/20/23

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I never found patters from the past to be working. Maybe since 2009 it will be the first time. I hope so. Ive seen millions charts which were mostly comparing some period to 1929, 1987 etc and cradh was just waiting to happen.

I learnt since 2005 (thats my year of entering the markets) of rather looking

1. at typical statistics, including moving avg, RSI, macd, sts, trix and several others

2. dont beliving in just one indicator especially RSi (you could see overbought and Dover Sole for quite some time)

3. at puts/calls ratio

Since 2005 i dont think that typical charts about positioning (you know, the one about large spec, spec and commercial) works either. Markets created so many instrument to speculate that i dont think that you could know easily what is the current positioning


Trend is your friend until it bends. Thats the most important lesson. keep it simple.

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The number of claims for unemployment benefits surprised lower at 228 000. Looking at the unseasoned data, it seems that nothing much is happening for the time being.

However, there is a periodic drop in claims ahead. The bottom at the labour market is around week 37 - so beginning of September. Only then we would see more initial jobless claims.


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