Please don’t fool yourselves with this last hour rally! It’s a trap by the market makers to curb stomp those a little late on joining 🐻 BEAR GANG 🐻 so they can squeeze out more profits with another big red candle when you foolishly sell your puts for a big loss and buy into their overpriced call FDs.
Here is why:
Tuesday: ISM PMI report released showing 47.8 !! This is nothing but a massive contraction in the manufacturing industry. Literally the lowest it’s been in 10 years.
Wednesday: ADP Non-Farm employment change released showing 135k vs a previous 157k (revised from 195k aka they fooled everyone last month) This basically forecasts Friday’s unemployment report / job-report is going to be shit.
Thursday: ISM Non-manufacture PMI numbers once again worse than expected… Forecasting a slowdown economic growth of US
Yet markets went up today? Hmm, that’s because people are saying rate cut probability is more likely given all this bad data, go figure, betting on the FED to save us, yet in their last meeting, they were conflicted about if we need further cuts! (look it up, many didn’t support further cuts)
To top it all off, we have weak earnings season coming up, uncertainty with the president, and trade has yet to get any better.
The market is going to likely bleed this year some more as we are still sitting only 1-2% off ATHs! Don’t be fooled…
Disclaimer: Consult your financial professional before making any investment decision.