Day Trading Weekly Review - July 25th. Meir Barak

Hi traders, a forth consecutive upside week. The S&P500 gained 0.6%, up by 6.4% for the year. Are there any fundamental justifications for new highs? No. The quarterly earnings reports shows company profits are on decline, the world economy is fragile and terror is on the rise. Sometimes, the ties between Wall Street and main street brake loose. When investors are forced to leave zero income bonds and buy stocks, stock price goes up. Of course, this is a problem that should worry investors, however, for us traders, when a rally eventually ends up in a crash, it’s an advantage. For now we should continue following the trend.

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