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Saturday, June 9, 2018

Bullish Stock Market Action Around G-7

The news is one thing but how stocks react is more telling. You had a crossfire of G-7 trade threats premarket Friday. Even after a down open the S&P 500 SPY ETF managed to close higher.

The market time and time again is telling you it wants to go higher. It's eating up many trade scares and other 'bad news' and has managed to rise anyway.

We've pointed out many times over the last few weeks that the market's action is very bullish.

S&P 500 ETF SPY
Source
Despite rates spiking the market didn't crater. Recently when China and North Korea news turned negative the market didn't budge. We've seen the same story many times of late.

Even with all this bad news NASDAQ quietly found its way to a new high.

We think the S&P 500 SPY is next. Are you positioned?

It's one thing to read the news but more important is how the market consumes that news. Not going down on 'bad G-7 news' is another example of amazing market action.

It's bullish.


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