SPDR S&P 500 ETF TRUSTUpdated SPY 8/5 going up on a Friday
Bad news is good news because it’s not as bad so that’s good, layoff’s means the company is trimming the fat so more money saved now they are a better company for it right? Today we stayed in the 30 minute range all day we probably went red to green 98 times. Yesterday’s chart means nothing today. We trade in probabilities nothing is certain. Let me know what you think about my opinion below very curious about how people are feeling
Have prices at the grocery store leveled out the French bread used to be .99 cents now it’s a $1.50 still cheap, meats have gone up a lot. I guess what I’m getting at is things are what they are and it’s not as bad as it good be for people who can afford it. But credit use is through the roof so can people really afford it. This is the dilemma going on in my head. Gas prices here in Las Vegas have dropped .50 cents in the last month for people making minimum wage it still isn’t enough when gas is 5.07 and you make 10.50 a hour so one day of work gets you 16 gallons of gas. I don’t know how people in power are so out of touch with common people who make your burgers and burritos, man I tell you these are weird times we’re living in that’s why I react to the market and try not to be so bias towards the obvious it’s hard to be bullish but that’s been the trend right what’s the old saying the trend is your friend until the end, so that’s why I think tomorrows news will be a little bad which will send the market up. Today’s consolidation is perfect to slingshot. As always trade what’s in front of you good luck have those stop losses set it’s all about defense when you have a small account protect your capital please
One reason I’m bullish for tomorrow is the DXY the dollar has dropped that means we should be going up on Friday I’ll be looking at 415c
Have prices at the grocery store leveled out the French bread used to be .99 cents now it’s a $1.50 still cheap, meats have gone up a lot. I guess what I’m getting at is things are what they are and it’s not as bad as it good be for people who can afford it. But credit use is through the roof so can people really afford it. This is the dilemma going on in my head. Gas prices here in Las Vegas have dropped .50 cents in the last month for people making minimum wage it still isn’t enough when gas is 5.07 and you make 10.50 a hour so one day of work gets you 16 gallons of gas. I don’t know how people in power are so out of touch with common people who make your burgers and burritos, man I tell you these are weird times we’re living in that’s why I react to the market and try not to be so bias towards the obvious it’s hard to be bullish but that’s been the trend right what’s the old saying the trend is your friend until the end, so that’s why I think tomorrows news will be a little bad which will send the market up. Today’s consolidation is perfect to slingshot. As always trade what’s in front of you good luck have those stop losses set it’s all about defense when you have a small account protect your capital please
One reason I’m bullish for tomorrow is the DXY the dollar has dropped that means we should be going up on Friday I’ll be looking at 415c
Note
I need to proof read these a little better, not as bad as it could be* not good beNote
So good news is bad news. Jobs report comes out off the charts good be careful out there
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.