Jul 5 market close update (after the Central banks fireworks, and US Independent Day firework)
(partial selective and less charts)
initiates Medium Term $spx target as XXXX on XXXX, ...
also set Short term $spx target price.
buy the rumors, sell the news - on central banks actions.
also updated UUP, SLV, GLD, $VIX.
Global rates cut.
ECB cuts rates to record low, China rates cut, Bank of England QE...
Denmark sets a negative rate for first time.
i think this could be an indication of central banks monetary policy cliff with stagnant economy that takes toll on the global stock market.
i am not always bearish on the stock market. for the past 1.5 years, there were many time i were looking for new $spx recovery highs while most people were bearish at those bottoms, and market did make new recovery highs as expected.
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