Karpel’s Corner: Fireworks kick off July, and the bulls like what they see

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

July starts off in explosive fashion, with the major indices finishing right off their highs.

For the beginning of a new trading month, I guess it is not that impressive of a move. It tends to be bullish.

Buyers at this stage are willing to continue to pay higher
prices. No kidding, but this is important because the continued pressure is coming at extremes, this hurts the Bulls.

Retail ($XRT) has been a recent breakout. So, at this stage, status quo. One last thought, the mortgage markets are starting to look ready to breakout. A break of 6.20 on $DJUSMF, would be extremely bullish for this sector.

See you next time at the Corner!