Bob Loukas 🗽
@BobLoukas
Position Trader, Entrepreneur, Family Man, Fullfilled. Omnia mea mecum porto.
Joined October 2009
436 Following 394K Followers
Interesting market. Stocks deep in their timing for a weekly cycle low, without being reflected in the index.
Tech has held the index up. While most sectors have seen real selloffs (Financials, homebuilders, Consumer, transports etc) to Cycle Low Levels.
Sentiment hit March Low levels!
This is a setup for a big new advance higher.
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Stocks are or should be in their declining phase of the weekly cycle.
Yet it remains extremely resilient, especially given weak seasonality (and mid term elections), yields and oil up too.
Type of environment where you have to really fight a desire to have a bearish bias.
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