Meta Strategy Trading Portfolio – Probability Map Update.

Just A Minor Consolidation?

If July lives up to its reputation as an exceptionally strong month for stock market returns, the minor consolidation we saw during an unchanged week at the end of a strong second quarter could be all we get.

On the other hand, Friday’s late turnaround did not inspire much confidence in an immediate resumption of the uptrend.

Monday will bring more clarity about whether there is more downside to come or whether the late-week drop will simply snap back quickly.

In any case, this pullback is likely to be bought relatively quickly, because in the current fundamental narrative all news is good news.