Hello Everyone,
We continue to see this slow sideways drift for the market, weakness in the small caps, and strength in a select few stocks like AAPL. Starting next week to the end of July we will have many big cap stocks reporting earnings (NFLX on the 20th, MSFT and TSLA on the 21st, AAPL and GOOG on the 27th, FB on 28th, AMZN 29th). Breadth was also weak today. We also saw rising inflation once again with the CPI and PPI numbers this morning. As far as trade ideas I'm still struggling to find good objective setups on the long side, therefore I remain very picky here and mostly in cash. On the other hand the trade short ideas we've had continue to do well.
Matt
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no new DVT's guys
7/9: SPX daily DVT = 4260, SPX 2 day DVT = 4232, Weekly DVT = 4057
QQQ daily DVT = 347.6, 2 Day QQQ DVT = 344, Weekly QQQ DVT = 325.2
