Momo Buying

Please click here for a chart of Nasdaq 100 ETF (.

  • The seasonality is positive this week but will turn negative next week.
  • The third quarter is historically the weakest quarter. Markets tend to dip from August to October.
  • The chart shows that RSI is very overbought and now flattening.  This indicates that a pullback may be coming.

OPEC In Disarray

OPEC+ is in disarray.  UAE  has broken ranks with Saudi Arabia.  So far the cartel has failed to reach a production increase agreement.

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Highly Infectious Lambda Virus

So far, the Lambda variant of coronavirus has been the most infectious variant.

Now 81% of cases in Peru are from Lambda.  Peru now has the highest death rate from COVID.

Lambda variant has now been found in Australia.

New data from Israel shows that protection of the PFE vaccine may be as low as 64% against the Delta variant.

The UK will lift all virus-related restrictions. The government’s reasoning is that people need to learn to live with the virus. The government expects deaths from the virus to go up after restrictions are lifted.

Momo Crowd And Smart Money In Stocks

The momo crowd is 🔒 (To see the locked content, please take a 30 day free trial)  stocks in the early trade.  Smart money is 🔒.

Gold

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The momo crowd is 🔒 gold in the early trade.  Smart money is 🔒 gold.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is 🔒 oil in the early trade. Smart money is 🔒.

For longer-term, please see oil ratings.

Markets

Our very, very short-term early stock market indicator is🔒.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates are ticking down and bonds are ticking up.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $1808, silver futures are at $26.70, and oil futures are $74.83.

S&P 500 futures resistance levels are 4400 and 4460: support levels are 4318, 4200 and 4000.

DJIA futures are down 26 points.

Protection Bands and What To Do Now?

It is important for investors to look ahead and not in the rearview mirror.

Consider continuing to hold existing positions. Based on individual risk preference, on dips, consider holding 🔒 in cash or treasury bills or short-term bond funds or allocated to short-term tactical trades and short to medium-term hedges of 🔒 and short term hedges of🔒. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges.  The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, total cash level should be more than stated above but significantly less than cash plus hedges.

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It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.  High beta stocks are the ones that move more than the market.