Pre-Open Commentary | July 22, 24

Condensed Insight Before the Bell.

Key takeways:

A lot going on on larger timeframes. DealersDashboard, as expected, is signaling end of pullback period (blue square). But we have to have in mind that it apears while overall sentiment (red spx plot) is still bearish. This means to reduce or close shorts in regular situation. But as I explain below this is not regular situation as we have more hints in other metrics as to what to expect in midterm perspective.