Weekly Macro Analysis 28.07.24
Buy the Dip?
After the bearish engulfing candle last week, we saw a continuation of selling early in the week, followed by chop to end the week, when we found support:
While the S&P 500 looks alright, the Nasdaq 100 has lost the 50DMA, and leads to the downside, although it certainly looks probable that we retest it at the 472 level:
I am not looking to buy the weaker index, or Large Cap Tech stocks here, right now the three most interesting opportunities in my opinion are:
Small Caps
Crypto
Treasuries
Small Caps are shaking off the Sell Off in the rest of the markets very well:
Crypto has also made a comeback in the past weeks and I am watching it closely:
It can also be traded via the Stock Microstrategy as a proxy:
And finally: Treasuries, I have heard a lot about the Steepener Trade and it would have also made sense for Long Bonds to Sell Off after the Trump Assasination Attempt, but they are recovering well:
