WALL STREET FRONT RUNS BLIND MONEY IGNORING PELOSI TAIWAN VISIT, ECONOMIC CONTRACTION AND KASHKARI
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Front Running
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that the stock market is now in the profit taking zone for tactical positions.
- The chart shows that RSI is overbought. Overbought markets tend to be vulnerable to a pullback. You need to be aware that right now momo gurus have a different narrative about RSI – their narrative is that the strength in RSI indicates a higher market ahead.
August 1, 2022