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Our View At this stage in the game, all I can say is I’m not surprised at all by yesterday's CPI RIP. As I said yesterday, the ES has been in a big back-and-fill pattern and every drop was being bought. This is the way it's been for the past 6 weeks and I still
Our View The ES fell yesterday, but unlike Monday's weak close the ES rallied on yesterday's close. The PitBull won our “battle” yesterday — re (from Tuesday): “The PitBull told me he's “got a sell signal in the ES and a buy signal on the VIX.” Who’s going to be right?”— but I am not
Our View After a nice early rally... the ES stumbled lower after SoftBank Group reported a record quarterly loss of more than $23 billion, which weighed on global tech stocks. Some big names have taken some big hits this year…Cathi Woods is -57%, Tiger Management -50%, and hundreds of hedge funds are underwater. When I
Our View Despite the rally, earnings expectations (and earnings results) continue to fall. And now that the Fed's easy money is evaporating, higher interest rates are taking over, along with inflation. For most traders, this is a worrisome situation…then you throw in the geopolitical risk with Russia and China. In the past when there were
Our View Despite the rally, earnings expectations (and earnings results) continue to fall. And now that the Fed's easy money is evaporating, higher interest rates are taking over, along with inflation. For most traders, this is a worrisome situation…then you throw in the geopolitical risk with Russia and China. In the past when there were