Stock Market bides time for what???

One thing I find interesting is all the talk about a global world and open borders and yet the U.S. ignores the pleas of the EU, China, and Japan to hold off on its interest rate hikes. Its almost like they will do everything they can to keep the stock market in check!

While everyone else is looking for ways to ease and keeping their fingers crossed that it will improve the global economy the U.S. just keeps talking about interest rate hikes.

Now could someone explain that to me? My simple mind just cannot comprehend exactly what is going on. Now I am not saying the Fed is wrong by this statement(although I think they are) but only to bring up the strange situation .

As far as trading in the stock market it just creates another uncertainty to deal with along with the Greek exit from the EU. Another 2 weeks and both of these will be front and center. So far the markets have ignored everything and stayed moving higher at breakneck speed.

Myself I am thinking higher from here in the stock market. The consensus in the stock market is starting to swing to lower so if only for that reason it’s probably a good idea to trade from the long side.

I have on several longs for swing trades and am looking to put on a few more if they setup. Right now the two trades I look at are breakout and pullback trades. Mean reversion would be nice but we are far from anything looking like a mean reversion trade.

As I type this the stock market is slightly lower. In particular banks mixed, bonds about even, the dollar off slightly, biotech down slightly , gold up , and the dollar slightly down. So a mixed bag this morning with nothing standing out as a big move at the open.

If you wish to follow my trades you can take a look at @rickjswings. It’s my private twitter feed for trading. It’s free for now and will be for a while.

Good Luck Today

RickJ’s Handicapping Picks

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