Market Report for Jul 12 2022

We spent the day enjoying the sun by the sea while the markets felt some pressure. Nasdaq Composite which had been leading this minor rally had found resistance last week as its 50MA and pivot saw mega-caps moving the markets down on Monday.

In addition to the 2/10 Yr inversion, more concerns crept in with new China lockdowns.

We have closed off our GBPUSD long-term short position and now just watching for sentiment suggestions, although still indicating weakness for now.

Let’s go trade!