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Tuesday, June 18, 2019

Daily update 6/18

Bulls show up on cue.


The market gapped up and was helped when Trump tweeted about a meeting with Xi at the upcoming G20 summit about 10 minutes after the open.  Breadth was +69%.  New highs picked up to 231.  New lows dropped back to 27.  This was the heaviest volume in a while.


The futures popped above the recent high and held on all day.


The green count turned back up and recrossed 50.

It appears SPX is resuming the up move after a brief consolidation.  I don't know what happens tomorrow with the FED meeting, but unless the selling pressure really picks up SPX should be on its way to test the highs.

Bob

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