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Quarter End: Strong Second Half Of The Year?

Published 07/01/2013, 01:00 AM
Updated 07/09/2023, 06:31 AM
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Quarter end markup was in full swing this week, not only the S&P rally most of the week, the very beaten down area like Apple (AAPL), Nikkei, TLT, SLV and GLD all managed impressive bounces on the last day or two. S&P was rejected at key 50 day moving average but 1st year of a Presidential cycle points to a potentially strong July. There are also three strong breadth thrusts this week combined with a strong December-January-February and a string of monthly up closes that points to a strong second half of the year.

On a long term horizon TLT may be targeting the 112 area. Next week we have the PMIs, auto sales and Friday’s jobs data. With a shortened week and half day trading Wednesday, option premium could shrink fast next week. We are at an interesting juncture and could move either way.

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