Week of July 17

4500 and beyond?

Recap of last weeks action:

Nailed the direction yet again. We did not get our ideal buy in the low 4300s, but we had a bullish bias coming into the week after an initial dip early in the week which is exactly what we got.

Now as I always mention, dont get too caught up in bottom or top ticking these swing, because that’s just a pipe dream frankly. I always aim to catch 25-50% of these moves and if you can do that, you are still making a ton of money.

We traversed almost 150 points last week in 5 days. I informed my followers of my bullish bias. If you didn’t catch the bottom (I didn’t) who cares? If you caught 1/3 of this move, that’s 50 pts. That’s still a ton of movement. The biggest mistake new traders make is they keep trying to bottom or top tick something and if they miss that they can’t jump in and ride the wave because psychologically they can’t bear to not get the “best” price. This is a poisonous mindset to have and one to be very mindful of.

Regarding CPI:

None of that bullshit multiple scenarios.

I said I think inflation comes in cool: it did.

I said I think we rally: we did.

Next move for markets?