Subject: "If it gets much hotter..."

TAOST Wrap
Tuesday 28 May 2019 
Quote of The Day
“If it gets much hotter around here, I might have to make a run to hell to cool off...”

― The Trader

Prediction
I listen to/read a lot of market gurus each day... Not for guidance, but more because I usually want to be going in a different direction from most of them.

Some days I don't have a strong difference of opinion...

Today wasn't 1 of those days. 

There were lots of predictions this morning that the market was likely to take off to the upside today.  I felt the exact opposite based on the market's structure.

Guess who was right?

No, not me... the charts... 

I say again... "Chart don't lie."

Along the lines or prediction... CNBC ran a story about Dow stocks that have historically done the best over 30 days when the 10 Year Treasury declined at least 20 basis points... The list that came back included Verizon [VZ], United Health [UNH], Coca Cola [KO], McDonald's [MCD] and Walmart [WMT].  

Now before you go getting all excited... or worse, plunk down your cash, the names delivered 1.78%, 1.36%, 1.31%, 1.22% and 1% respectively... Not exactly rent money.
I "predicted" last week that we would see 100° degrees in these parts within a week.  That was no more "guaranteed" than market predictions.
How To Use TAOST Daily Wrap [Video] 
I should have added done and added this a long time... oh well... sue me.
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Index, ETF and Select Single Stock Performance
A Few Headlines Of The Day
  • More trade war jitters sparked an even bigger rally in Treasuries as traders seek safe havens.
  • Morgan Stanley says economy on recession watch because of warning flashed in the bond market
  • Others suggest we could see a lift in the next few days due to a "month end rally"
TAOST ES Power Zones & POIs Today
15m Chart -- Price attempted to rally to TAOST High Power Zone... that's where I thought we might get a turn this morning... But sellers were having none of it.
60m Chart
120m Chart
Daily Chart
Basic Index ETF Performance
SPY
The pattern continues to play out for now.
TAOST Stalk Stock
Unilever [UL]
This consumer non cyclical looks ready to take off... Right in time for a potential downturn.
As always, make up your own mind and, more important, minimize your risk no matter what you do.​​​​​​​

KIS,
The Trader​​​​​​​​​​​​​​

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