Targeting $500 every morning with just a a $2500 starting stake?Here’s how Geof Smith does it.
Hey folks,
Markets are doing something interesting this week — they’re climbing higher… even when the headlines don’t give them much reason to.
The S&P 500 hit another all-time high today, right after a pretty awful ADP number.
Analysts expected 99,000 new private-sector jobs. We got -33,000 instead. Yes, a 33,000 job loss.
That’s a miss by 132,000 jobs.
And yet? The market only sold off for about five minutes… then turned right back around and rallied to new highs.
Now if you’ve been reading this week, you know this fits right into what I’ve been saying.
On Monday, I told you the market always overreacts — and that smart traders wait for the dust to settle. Today’s reversal was a textbook case of that in real time.
And yesterday, I told you the rally was starting to widen out — moving beyond just tech and into the rest of the market. We saw more of that again today.
But now we’ve got a different setup: tomorrow is going to be weird.
First of all, it’s a half day with markets closing at 1pm Eastern.
Then with markets closed Friday for the Fourth of July holiday, Thursday has to absorb all the economic data we’d normally see spread across two days.
So jobless claims, services PMI, and anything else that hits the wire… it’s all landing at once.
Just look at it… that’s no average Thursday:
And if that weren’t enough… we’ve also got a potential wildcard: the big budget bill working its way through the House.
They’re trying to get it done in two days — and I’ll be honest, I don’t know if they’ll pull it off. But if they do? The market could move.
If they don’t? The market could move.
So enjoy the calm while it lasts. I have a feeling tomorrow’s going to have a little more juice behind it.
Stay sharp,
— Geof
