honkers is absolutely smashing upwards today, way more than an impulsive correction would to reset a downtrend....... and i've only had chance to take a few small bto's as my focus is on PM's .....needless to say wit dax/spx futes popping at their opens the $xjo should have a small rocket which is nice as i'm holding longs in this bull
read Colin Twiggs on the weekend who has pulled an Alan Kohler with a huge "i'm out of this" statement
retail cfd's on SP200 closed saturday morning a whopping 95% STO's
bulls 1 nervous nellies 0
$hsi $spx $dax $xjo
http://thepatientinvestor.com/index.php/2019/06/08/asx-200-zero-confidence/
https://www.optionstrategist.com/we...394569658&mc_cid=399157e848&mc_eid=c5d2a13444
Stock Market Commentary 6/7/2019
By Lawrence G. McMillan
McMillan Option Mentoring
On Monday of this week $SPX was near its lows at 3pm. But from there, there has been massive buying all week. However, the $SPX chart is still bearish, because there are lower highs and lower lows on its chart. Oversold rallies typically carry from their lows up to and slightly above the declining 20-day moving average. That's exactly what this rally has done so far (the 20-day MA is just below 2830).
There is clearly support at 2730 now, and that's in the same general area as the 2720 support from early March. As for resistance, the first remaining resistance level is 2900. Above there, of course, is the massive double top at 2940-2950.
The equity-only put-call ratios have generated new buy signals, according to computer analysis of their charts.
Market breadth has seen some cross-currents, but both breadth oscillators are on buy signals at this time.
Volatility remains at very low levels, and thus is generally bullish for stocks. Recently, it seemed that $VIX might be developing a long-term uptrend, but that did not materialize.
In summary, there are mixed signals. The new buy signals from put-call ratios and breadth are somewhat at odds with a still-bearish $SPX chart. Unless $SPX can close above 2900, the bears still have a chance.