Wednesday, July 13, 2016

S&P 500 New Highs: Respect Markets And Look For Bear Cues

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*Markets breaking out to new highs is of course bullish.
*We don't expect it to hold and think fundamentals will bring it back down.
*That said, losing money is not a good business model so we need to wait for our cue.
*We review past report technical cues that we want to line up with our fundamental call.
(Picture: On lookout for bear cues in financial markets.)
While we have been bearish the market (NYSEARCA:SPY) went up in our face of late. We called for cues to watch for (here and here) to "catch a bear." Instead of fighting every up move we first need the market to show us it can go down. Then we can short and get more aggressive. We want to take this report to review some of those cues.
We said in our report June 9th that we saw the market "honestly inching up, that's not yet a bear but it can change fast." Keep in mind fundamentally we were bearish, as you may know.
We did not see the signs yet.
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Chaim Siegel has been working with hedge funds and mutual funds as an analyst and PM his entire career. Chaim specializes in earnings and predicts, analyzes and reacts to earnings and earnings events as well as developing current company stories with a hedge fund perspective. If you want his analysis real time sign up to the right for real time email alerts. #in, $spy, $qqq, $iwm, $vxx, $ycs, $fxe, $EUO, $YCS, ^GSPC, INDEXSP:.INX, #elazaradvisorsllc, CME Globex: ES Disclosure: These trades can lose you money and principal especially when using leverage BY USING THIS SITE YOU AGREE TO TAKE ALL RESPONSIBILITY FOR YOUR OUTCOMES AND LOSSES AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS