Welcome to fantasy island, where up is down and down is up.
Hey Woods nice too see a 42% gain last month but that doesn’t wipe out the 25% you’re still under water.
Yesterday’s highs were very important in the Indices!!! Only Sustained weekly closes over those levels
listed on the Pit charts, ” the Sept Jackson Hole Fed pivot highs” will lead to another bull run.
Spoo…I’ll need to see a 4125 print at some point today to strand all those late day buyers of equities.
Lokking to see where an initial break holds. Then trade the flows.
Apple held support after the close, pay attention for a MSFT like reaction back up dragging the indices with it.
The Dollar is in profit taking mode after yesterday.
Gold will need to hold an initial break to remain a viable long, particularly against the Yen and Yuan.
There is still a 100% arbitrage between Rotterdam delivered natty and the U.S. that still is contraction mode.
My Rotterdam data is end of day making it difficult to see a possible inflection point. Worth keeping an eye on if you wish to bottom pick the U.S. natty.