QuiCQ 21/06/2024

The Witches of ... Limmatquai

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"Just because nobody complains doesn’t mean all parachutes are perfect."

-- Alfred Hawthorne Hill (aka Benny Hill)

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Here’s one for those frustrated bears … you may be in for a short-term treat (salmon or honey or whatever bears eat). Yesterday, saw key reversals on several important indices (e.g. S&P 500, Nasdaq, Phily Semi). A key reversal is when a market opens higher than the previous day but closes lower than the previous session (aka bearish engulfing). Below the example on the S&P 500. It is usually a more meaningful signal on a weekly or monthly chart, but maybe, and just maybe, there is something to it as it is reinforced by 1) a quadruple witching day today (expiry of Index Futures, Index Options, Stock Options and Single Stock Futures), 2) summer solstice aaaand 3) full moon! At a minimum, the bears have a trading opportunity with a tight stop loss (yesterday’s highs). Good luck 😊

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Disclaimer:

o Everything in this document is for educational purposes only (FEPO)

o Nothing in this document should be considered investment advice

o Investing real money can be costly; don’t do stupid stuff

o Past performance is hopefully no indication of future performance