Today´s Market July 30, 2013

NDX3007

The NDX-100 reached the 3999 level before it retraced 25 points sharply followed by a bounce closing 0.53% positive, even though the DOW and the S&P 500 were flat.  The market keeps pushing higher reaching all time highs thanks to the FED´s QE, as economic and earnings reports do no warrant such lofty levels. Facebook is very close to reach its IPO and will most likely break the USD 40 level due to its better-than-expected earnings report last week where it stated 41% of its ad revenues came from mobile, a huge jump. On the energy front WTI oil closed 1.34% negative as traders await tomorrow´s Fed statement as well as inventory levels.  Our strategy worked fine today and we still maintain the view that the market is overbought. Tommorrow´s FED announcement as well as Friday´s Jobs report will be the catalyst for a correction or further gains in the market. Caution is warranted……

Today´s Profit USD 380   (Portfolio Size: USD 25,000)

Visit Past Trades to review our history.

In August we will start placing our trades real-time on Twitter @NDXTrading

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s