That pullback lasted about 2 minutes. We got the bears biting at he false breakdown from the tight range, we reversed in a hurry back to the top of range and breakout above it today. Hook, line, and sinker. The bears fell for the oldest trick in the book, the false break below the range. All this does is more boring markets for another few days.
The strong nonfarm payrolls number won't get the Fed to raise before the election, and most bond traders seem to realize this. The Fed wants a higher market going into election day, and they will do what it takes to ensure that.
Still expecting a top sometime soon, as we still have election uncertainty and a lot of complacency set in at this time. August through October is usually the worst time for the stock market, historically. Plus we are overvalued.
Will be taking a blog break for the next couple of weeks. Maybe some occasional tweets during that time.
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TrendRambo on Twitter:Revising my outlook ( flipping again = flexible):Latest indication the globalist party and media forcing Trump to unleash hell to change the regime. ETA after Rio and before labor day. Trump will initiate a brutal assault and it will not be pretty. I concur .. volatility is inevitable. This will get nasty. He is not a quitter #GOOD !
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