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Don't Get Lulled to Sleep 6/26/24

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The market averages are bubbling along near the all time high, but all is not well beneath the surface. For the past week I have been noting here that my swing trade screens of around 1300 bigger NYSE and Nadsaq stocks have been revealing way more sell setups and signals than buys. That continued with the screen of charts from last night's closing prices. There were 42 buy setups and 7 were triggered.  There were 131 sell side setups and a whopping 43 were triggered yesterday. The sell side numbers keep going up, while the buy side numbers remain stable at low levels.  

In other words, a few behemoths are masking underlying weakness that may just be getting started and eventually could metastasize to Wall Street's nerve center. 

Today, the ES chart looks quiet again. Nothing is going on at the top of the list. But you will note that over the past few days there have been lower highs and lower lows. This happened during a 5 day cycle up phase. If this is the up phase, I can't wait to see the down. A 5 day cycle high is due today or next day. The hourly cycle oscillators have just ticked to the sell side from a low level. Buckle up Tamara. 

15chj3

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Primary Dealers have reduced their fixed income portfolio hedging at the worst possible time. They are facing a deluge of supply in the months ahead, and they are not well hedged. They have reduced leverage a bit, but this doesn’t appear to be enough to help them through the supply tsunami that is headed their way. Non-subscribers, click here for access.

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11 minutes ago, DrStool said:

Primary Dealers have reduced their fixed income portfolio hedging at the worst possible time. They are facing a deluge of supply in the months ahead, and they are not well hedged. They have reduced leverage a bit, but this doesn’t appear to be enough to help them through the supply tsunami that is headed their way. Non-subscribers, click here for access.

Subscribers, click here to download the report.

Here’s what this means for stocks and bonds, and what you should do about it.  Non-subscribers, click here for access.

KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! 

If it gets too tough FED will change policy faster than you csn ssy:“Au revoir“. Easy peasy.

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19 minutes ago, potatohead said:

is that what goes on above my favorite chinese food restaurant ?

Not at all. It's a video of the stock market that I shot today. 

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