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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Thursday | July 2, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: July 1

The day was probably the most boring one of the year, and it felt like traders left for the shore a couple days early. Typically, we do not see the markets move this slowly until the day prior to the 4th of July weekend.

The Dow closed down 78 points while the SPX closed higher by 15.57 points, and the NASDAQ had a good run higher – closing up 1.2%.

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TODAY: July 2

LONG TERM – NEW ALL TIME HIGHS (possibly), and then a NASTY trade war sell-off – probably after the election.

I do not expect much from the day. As a matter of fact, I suspect that after the first hour of trading, most traders will be on their way home. I use to leave the trading floor about 90 minutes after the open, and I was dedicated.

Be careful though. News on very quiet days like we will have can lead to over exaggerated moves. There will be very low liquidity, and nothing but amateurs left. News that should normally move the Dow +/- 100 points can move it 300-400. If something like this occurs, we will likely see Monday move in the opposite direction.

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -35% for the year.

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

2020 ONE-YEAR PREDICTION:
Average year with lots of intermittent volatility
(-3.56% so far)

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A separate update coming.


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DISCUSSION BOARD

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LAUGH OF THE DAY

Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.

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Disclaimer

For education purposes ONLY. Please read the disclaimer below. We do not care if you agree or disagree with it—that is the rule. ​​​Stratagem Trading (Stratagem: “StratagemTrade.com,” “Stratagem”), and any of its possible affiliates, respective independent contractors, employees, officers, or agents are not acting as licensed financial advisers, registered broker-dealers,tax advisers, etc. (although some individuals may or may not hold a license). Furthermore, they do not provide financial advice, make recommendations, or conduct business by transacting trades. Stratagem Trading adamantly states that nothing in this communication constitutes a solicitation, promotion, endorsement, offer or recommendation to buy or sell any investment, mutual fund, debt instrument, commodity, derivative product or security as described herein.

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