This market knows no bounds. There are a million reasons why this market should be much, much lower, but the central banks don't want that, and until they take their foot off the gas pedal I don't expect much to change. At least not ahead of the US election in November.
The world clearly doesn't like Donald Trump, at least the establishment doesn't. He is a threat to the existing power structure and status quo, so the notion that the Federal Reserve would tank this market by raising interest rates just a few months out is completely ludicrous.
Inflation could rise to 1,000% and they will still say they are watching economic developments. Bank on it!
As a result, here are the bullish setups I am following this week. I've already added one of them this morning, and could add another one this afternoon if this market would quick muddling around.
...And a quick side note about the list below. Once a stock has made its move, I take it off of the watch list. This isn't a "look at all my great calls list"; this is about identifying potential long setups that have more upside.
If a stock, like Rackspace (NYSE:RAX) from last week, makes a big move and there isn't a good trade setup any more for keeping it around, I am going to remove it from the list. It is about where the stock is going, not where it has been.
