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Seasonally the last 5 trading days of July have a modestly upward bias.
In the first year of the presidential cycle the last 5 trading days of July have been up 70% of the time.
So basically we have a great chance of moving higher this week.....
Does that mean I should be buying? No.
Sell, Sell, Sell and Sell a little more is the strategy this week, preferably at higher levels.
Why do I want to sell?
I think this week we will see the major markets make the top that could then set the start of a major decline for the next few years at least.......
10,000-9800 is this years target.....
In the first year of the presidential cycle the last 5 trading days of July have been up 70% of the time.
So basically we have a great chance of moving higher this week.....
Does that mean I should be buying? No.
Sell, Sell, Sell and Sell a little more is the strategy this week, preferably at higher levels.
Why do I want to sell?
I think this week we will see the major markets make the top that could then set the start of a major decline for the next few years at least.......
10,000-9800 is this years target.....
The 50 day simple moving average has just crossed above both the 200 day and 100 day smas and yahoo finance says today that 90% of the Dows gains happen when congress is out of session so this could be a good week to buy as the years session finished last week.
Racer
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The bounce today on Dow futures was similar to the other moves but this is not as strong at all.
Watch 10665 on daily dow, key level possibly, if fails we could get a big move down.
Then again, the bulls are still in charge so are they just resting!!!
Watch 10665 on daily dow, key level possibly, if fails we could get a big move down.
Then again, the bulls are still in charge so are they just resting!!!
Racer
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NEW YORK (MarketWatch) -- American Express Co. on Monday reported a 16% jump in second-quarter profit as revenue climbed to $8 billion amid record spending by its card members, an increased number of credit-card customers, and higher member lending balances and levels of invested assets.
American Express profit rises 16%
Shares of the Dow Jones Industrial Average component (AXP: news, chart, profile) were up eight cents to $54.65 in late afternoon trading.
The company said its profit rose to $1 billion, or 81 cents a share, up from $876 million, or 68 cents, earned in last year's second quarter.
Revenue climbed 11%, reaching $8 billion from $7.2 billion. Expenses rose 12% to $6.7 billion.
A survey of analysts by Thomson First Call estimated the company's earnings at 78 cents a share and revenue at $7.8 billion.
American Express profit rises 16%
Shares of the Dow Jones Industrial Average component (AXP: news, chart, profile) were up eight cents to $54.65 in late afternoon trading.
The company said its profit rose to $1 billion, or 81 cents a share, up from $876 million, or 68 cents, earned in last year's second quarter.
Revenue climbed 11%, reaching $8 billion from $7.2 billion. Expenses rose 12% to $6.7 billion.
A survey of analysts by Thomson First Call estimated the company's earnings at 78 cents a share and revenue at $7.8 billion.
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What do you think the market has historically done after hitting a four year high?
You guessed it. It has declined 7 out of 8 times over the next 30 days. Running with the heard can sometimes lead you off a cliff.
According to my analysis I think we have a high probability of completing our top this week in the major markets.......
Long is the market direction but short should be your direction.....
You guessed it. It has declined 7 out of 8 times over the next 30 days. Running with the heard can sometimes lead you off a cliff.
According to my analysis I think we have a high probability of completing our top this week in the major markets.......
Long is the market direction but short should be your direction.....
Racer
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- DuPont Co.'s (NYSE: DD - News) quarterly profit surged, helped by a gain from an asset sale, the No. 2 U.S. chemical maker said on Tuesday.
Net income increased to $1.02 billion, or $1.01 a share, from $503 million, or 50 cents per share, a year earlier.
--For the latest second quarter, 12 analysts on average expected the company to earn 96 cents a share, excluding any exceptional items, according to Reuters Estimates.
--The Wilmington, Delaware-based chemical producer said latest second-quarter net income includes a net benefit of $111 million, or 11 cents per share, related to asset sales, a favorable tax audit settlement and restructuring costs.
Down 1.82% in pre-market
Net income increased to $1.02 billion, or $1.01 a share, from $503 million, or 50 cents per share, a year earlier.
--For the latest second quarter, 12 analysts on average expected the company to earn 96 cents a share, excluding any exceptional items, according to Reuters Estimates.
--The Wilmington, Delaware-based chemical producer said latest second-quarter net income includes a net benefit of $111 million, or 11 cents per share, related to asset sales, a favorable tax audit settlement and restructuring costs.
Down 1.82% in pre-market
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roguetrader
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So would it be fair to say they would likely have missed if not for one off benefits?Racer said:
roguetrader
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Consumer Confidence number out at 10 am EST (3pm UK)
Racer said:
U.S. Consumer Confidence Falls to 103.2 in July From 106.2
Unexpectedly falls.......... LOL
This market if back to front. Lower consumer confidence = rally ?
Racer
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Ah but 'they' say it is okay so that is okay!
Conference Board July June Forecast: 106.0
Consumer Confidence 103.2 106.2 R Actual: 103.2
Present Situation 118.5 120.8 R
Expectations 93.0 96.4 R
'Despite the softening state of consumers' economic assessments, the Conference Board cautioned against reading too much into the current drop. "This month's decline in consumer confidence is no cause for concern," said Lynn Franco, economist with the group. "The overall state of the economy remains healthy and consumers' outlook suggest no storm clouds on the short term horizon," she added. '
Conference Board July June Forecast: 106.0
Consumer Confidence 103.2 106.2 R Actual: 103.2
Present Situation 118.5 120.8 R
Expectations 93.0 96.4 R
'Despite the softening state of consumers' economic assessments, the Conference Board cautioned against reading too much into the current drop. "This month's decline in consumer confidence is no cause for concern," said Lynn Franco, economist with the group. "The overall state of the economy remains healthy and consumers' outlook suggest no storm clouds on the short term horizon," she added. '
