Model remains bullish. It has been bullish for the last four weeks.
Here’s the Executive Summary from this week’s Exodus Strategy Session:
I. Executive Summary
Raul’s bias score 3.88, medium bull*. Expect price to consolidate at/near record highs, with any sizeable directional moves on the week being faded back near the mean. Watch for the third reaction to Wednesday afternoon’s Fed Beige Book to provide direction into the second half of the week.
Watch for Netflix earnings Wednesday after-market-close and Microsoft earnings Thursday after-market-close to potentially provide tradable volatility in the late-afternoon, especially on the NASDAQ.
*extreme Rose Colored Sunglasses [e(RCS)] long bias triggered, see Section IV
The Sunday summary are the broad brush strokes I make heading into the week. I know where the market likely wants to go, and I make my first few broad swipes on the proverbial blank canvas.
The quote on the Strategy Session comes from slave-born Greek philosopher Epictetus, and it reads like a compacted ‘how-to trade’ manual:
“First say to yourself what you would be; and then do what you have to do.” – Epictetus
That’s all wer’re doing over here folks—planning, trading, and refining our craft. There is nothing fancy about this blog. Come Monday, if it is the will of the gods, I will write up a trading plan then go to work trading it. Again Tuesday and Wednesday and so on, then next Sunday a blank canvas and some new brush strokes. Nothing to it but to do it.
Hope you all have a strong week of mental fortitude and physical strong cock-edness.
RAUL SANTOS, July 14th, 2019
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