We’ve been discussing this scenario with Yra for the past 8 months.
What happens when the Fed losses control?
What happens when Fed action gets sold?
3137 was the first rate cut Spoo high.
2675 was last nights Globex high.
2016 Spoo prices would not be a surprise.
Spoo/Bonds could potentially break another 20 figures.
Gold…is breaking down and electing Qtly ORL sell stops against the Suisse. I’d expect the same pattern to play out against the Euro & Yuan.
The same indicators that had us trade the Gold from the long side over the past year, show that Gold is now just an ATM to raise cash.
Spy is down over 9%.
Governors and Mayors are stepping up on containment.
Trump administration is woefully behind the curve.
Putin is taking charge in Russia making sure there is paid leave
For you newer traders; its ok to miss a trade!
Today will be wild event trading.
Bottom pickers best be very careful.
It’s a trade not an investment!!!!