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    Market Recap for Monday, July 31, 2023

    Go to Market Recap for Monday, July 31, 2023
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    SwingTradeBot over 1 year ago

    What are your thoughts on 'today's (2023-07-31) market action?

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    TraderMike over 1 year ago

    It's been a long time since the Index Trend Table was solid green.  It turned so today due to IWM's ADX (which is a lagging indicator) flipping to "trending up strongly".  Typically the trend table being all green or all red is a sign of at least a short term extreme.  It wouldn't suprise me at all to see the market rest a bit in the next week or two.

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    Cos3 over 1 year ago

    The seasonality of the "SPY ETF" shows that the last 10 years July finished green 80% of the times (with average of 2.4% return) wich is the best month of the year globally in probability.  August, is the opposite (finishing green 20% of the time @ -3.6% return).  Maybe there's specific sectors we should look for return on the next months.

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    TraderMike over 1 year ago

    Interesting.  Have you seen any sector specific seasonality stats?

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    Cos3 over 1 year ago

    in fact i was using the stockcharts web site seasonality tool ( SPY | Seasonality | Free Charts | StockCharts.com ) I was hesitant to promote another web site on your site.

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    TraderMike over 1 year ago

    I appreciate that but no worries unless is blatant promotion of some scammy site.  I have links to StockCharts on every stock's page 

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    Cos3 over 1 year ago

    I've made a mistake when i've did my search.  The results are less catastrophic but similar.  I've been looking in that way too and to my eyes the ETF of the dow ("DIA"), Utilities ("XLU") and techno ("XLK") looks stronger the next 1 or 2 Quarters

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