One of the dullest summer months you’ll ever see.
First few days of July were okay, heck there, was even a four day stretch in the middle that was quite interesting. But these past eleven trading sessions have been some of the most boring trading sessions you’ll ever see. We’re seeing lower and lower volume readings that continue to filter into the market. Each day, you’re seeing coordinated take downs of specific sectors and industries, yesterday it was software stocks, today it is utility stocks, while also trying to boost others in a way that makes little-to-no sense, like energy going gang busters. And I’m not going to touching that sector right now, as it has to be the worst sector chart out there, and any bounce attempt over the last four months has consistently been sold off.
I tried to short SPX today, following the early bounce attempt, thinking, at the very least, I would see a retest of the day’s lows, but apparently that’s not even feasible either, so while we sit at all time highs, we can’t seem to go higher or lower, instead the market just exists to open and close with very little in between happening.
At least Apple (AAPL) after the bell and Uncle Jerome tomorrow might be able to spice things up a bit for us.
Rant over!
Here’s the watch-list for the bearish short-setups: