A Short Week Finishes - Market After The Close, Friday 5 July
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While The Bigs Were Away, The Machines Went To Play
by Alex King
The week of July 4 is a simple one on Wall St. In the office? You remain firmly in the laborer camp. You may not operate machine tools for a living but yea verily are you alienated from your own essential self. Out of the office but suffering from acid reflux in case the muppets still in the office do something dumb? Petit bourgeoisie. You think you're in the capitalist class and indeed one day you may be, but one wrong move and, blammo, it's back to the dark satanic chart-mill for you. Out of the office, on a yacht (preferably not your own, jeez, the depreciation), at ease with the world? Attaboy. You made it! (*)
(*) till Monday. When you find out what damage has been done to the books, between the muppets in the office and the delusionists levered to the hilt to buy the big beach house next to the even bigger beach house that has been in your family for generations.
Monday, the grownups take a look at the books and make a plan for Q3. Today it's still just about Friday. Ish. So let's take a look at how those books likely stand - we can do this easily with our usual charts - which can help us form a view on where bigs are headed this coming quarter.
So Let’s Get To Work
As always in our market notes, we deal with long- and short-term charts covering the main US equity indices - that’s the S&P500, Nasdaq-100, Dow Jones-30, and the Russell 2000 - plus bonds, volatility, oil, and key sector ETFs. You can use these daily notes to help you navigate long-term investments, and/or to help you action short-term trading. Any paid-tier subscription here gets you these notes every trading day.
Read on!