What a crazy last few days, we can’t or won’t even try to make sense of everything, from 1000yr floods to an about face by the Trump administration on Epstein Files and now Tariffs are back at the forefront. Our thoughts and prayers with the people of Texas dealing with the loss of loved ones in this recent tragic flooding.
We still can’t figure out for the life of us, why counties in this country are not fully equipped with Autonomous Drones capable of canvassing and delivering safety rope, safety life raft and running via Ai with infrared capability. Honestly there is zero excuse anymore for Counties across our country in high risk zones, especially known flood zones, to have this technology and hardware.
We also want our readers to follow SpaceWeatherNews (SO) on YouTube and X. This is a fantastic resource for space weather news that focuses upon the changes to our planet specifically driven from a scientific and cyclically occurring perspective. They talk about the Earth’s disaster cycles and we couldn’t agree more with most of their assessments. All we can say is that we expect earths climate to continue to become more volatile, hotter highs, colder lows, increased precipitation, increased drought. The point being Earth’s climate is variable and we need to focus more upon rapid response mechanisms to deal with this rather than green based solutions.
Anyway our thoughts and prayers to the people of Texas. In other news the big bombshell awaited release of the Jeffery Epstein file fell flat on its face as the DOJ released a memo basically saying “Case Closed Nothing to See Here.” To which we promptly replied with the simplest understanding of how such a farse could even transpire and we posted this meme:
If mankind doesn’t realize by now, post Diddy, post Epstein that there is an absolute two tiered system of justice, well they will never be convinced. We don’t even waste our time with it, there are a few above the law and then there are everyone else its just the way it goes, we accept that fact, but we are certain its going to upset the majority of the Trump political support base.
Ok now we now Tariffs are looming once again and the markets took this as an excuse to take some profits. Its kind of the MO now, markets run up, recover, then someone wants to use Tariffs as an excuse for momentum ignition. We try not to focus on any of the excuses and rather just focus on real time price action. When we look at the QQQ ETF we continue to believe the Apex of this triangle is now the target. However we know many will try to pick a top up here and thus selling will show up on certain days. So what we want to do is recognize, the trend, which is higher, we recognize support which is initially at 544 on the weekly and now at least we have some areas of control to focus upon. We will expect higher highs as long as we are above 544 but that is the risk being long from this area:
When we look at the Nasdaq futures, we have the same setup and 22350 is our weekly support area of control that bulls must maintain for our higher theme:
When we look at Crude Oil, we can see kinda what we are talking about when a rally gets back tested down to its weekly support area. When we look at Crude Oil which did take multiple weekly runs at the $76 area have now retraced down to weekly support at $65. Observers can see how this area is control and the ongoing battle between the bulls/bears continues with bulls holding it for now:
The problem Crude Oil has is the propensity for the global economies to start showing signs of real slowing. In fact if we start to see the $65 area giving away, this may be a sign of a risk off event and could drag a whole host of other markets with it!
Well guys we are into the dog days of summer here and we suspect markets will be very fickle and react to any silly piece of news that could cause volatility to rise, which is really where most big HFs make their cake. So we don’t expect much data here this week to change the overall theme. We suspect its steady as she goes for most markets here, the US Dollar has hit some decent support areas and we have seen this market bottoming, but how long can this last? The dollar looks like it wants to bounce, but we do not believe this is a trend change here, these are hopeful technical buyers:
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