If you track the S&P 500 and SPY, then you would think today is a bad day. SPY is below intraday support while DIA is above support and IWM is above pivot.
Moreover, the advance/decline line on the NYSE is +437 while NASDAQ is at -401. That does not validate the S&P 500 being off -11.48.
Remember SPY is off -1.05% due to a dividend adjustment with today’s expiration.
There are several indicators I follow that are saying we are at a bottom. Others are not confirming. More on this over the weekend. With that thought, I am more in the camp of being a buyer here than a seller. With the Brexit vote aside.
Now in terms of the Brexit vote, I am working with a firm out of Singapore, Sqreem, that is a generation beyond Palantir in terms of data scrapping. Here is their calculation on the vote. 50.9% want to stay. The polls are bullshit and the oddsmakers are closer to reflecting what will happen next week.
P.S. My image is of Howard “I am mad as hell” Beale. More on him as well over the weekend. Fly, I suggest that movie for your Saturday Cinema. I think you will see the parallels to today.
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we’ll see about that. Polls are always flawed, even one’s concocted in Singapore, of all places.
Interesting on Brexit.
As a point of calibration, how did Sqreem do on the most recent UK election – the one that swept Tories into power and led to Corbyn?
That election updended a lot of polling firms.
Data scrapping. That’s what happens when hard drives and documents are shredded.
Dude,
This could be interesting, but you cant just claim some no name research outfit from a seperate country AND region has the “dope” on an event; simply because they are the outfit that you happen to have inroads with. Thats like my neighbor that claims to have the “best wine” source bcause he happens to be friends with the clerk at BevMo. Prove to us that Sqreem (terrible name) has the inside dope……whats their edge? is it just pretty charts you are impressed with, or are they the type of firm that thinks more data is “more” and trys to slice and dice a bunch of meaningless data that everyone else left out as irrelevant. Let me control the sample size of your stat study and I will also control the outcome. I don’t want to come off as a dick, but you just claimed to have inside track on a potentially big event, with no proof.