Pre-Open Commentary | July 25, 24
Condensed Insight Before the Bell.
Key takeways:
One interesting thing which stands out in the data is dealersdashboard keeps spx plot green - and do not read it in any way as a signal. It means that the bullish signal might come much easier (less effort from bullish side). I just find it interesting that a metric which usually follows trend and thus lags a bit is still in opposite stance as the market.
But midterm TrendPhase defienietly is not bullish… yet. And even if the short signal lagged a bit and prices seemed a bit oversold it gets paid nicely.
Price have hit 2std dev. which usually is a sign of some buyers coming up and at least consolidation of some sorts.
Today we have GDP data. As you might have noticed I added into excel a new metric (Macro Slow). This is just to follow macro on a basis of uptick and downtick (Macro fast) in economic data but also some larger macro data trend (hot and cold economy). I explained this concept on discord a bit, but I will write a post at some point on this subject. Macro definietly looks better over the years from perspective of “slow” metric but I’m not sure yet if im gonna add it into strategies. We’ll see.