July 16, looks like the last record high and since then the Nasdaq has made some wild moves that could be the start of a new trend. Lower highs are not yet visible or long enough but all it takes is one more new record low which can get investors into a mini panic.
Antitrust investigations can get investors nervous as the stories are out that the SEC has officially started investigations of the “FANG” stocks.
Some analysts are very bullish on stocks as we hear stories about a melt-up is coming. Any potential melt-up is pretty hard to swallow at this time as it would start at world record highs. A melt-up from this point is next to impossible as the Gold/Nasdaq ratio is already super expensive at 5.6.
Commercials are net short but yet not quite extreme enough.
We are getting closer and closer to the fall and the fall time period can produce some ugly melt-downs.