Hello Everyone,
Quick Comments:
I've been commenting over the last few days about the lack of good objective long setups, and when we see that it's generally a negative for the market. In fact our best setups that have been kicking butt have been our short setups (RBLX, NVCR, EXPI, ASTR, KLR, QURE, SPXU). On the market it feels like the only positive thing is the fact that we are in earnings season with most of the big names set to report over the next couple weeks (NFLX on the 20th, MSFT and TSLA on the 21st, AAPL and GOOG on the 27th, FB on 28th, AMZN 29th). If it wasn't for earnings season I would be extremely concerned about a stronger correction and rug pull for the market with all the negative breadth and divergences that I've been pointing out. However generally the market posts or holds onto gains during earnings season, which beings much more strongly next week.
AVT is a utility stock that looks strong.
No new DVT's and the SPY system still has the open Long position.
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7/9: SPX daily DVT = 4260, SPX 2 day DVT = 4232, Weekly DVT = 4057
QQQ daily DVT = 347.6, 2 Day QQQ DVT = 344, Weekly QQQ DVT = 325.2
