A.M. Look 5/23/19

Mr President AKA “Baby Huey” was at it again being a petulant infant.

I don’t disagree with his general stance on China. I do not believe that emulating
Krushchev will get you what you want with the Chinese.

This is still a big mid-week shuffle with the Index technical models having no chance
of turning up.

Oil just hit its 200 DMA with Nasd 100 coming into an initial bounce level
on the 100X3 PNF.

Spoos…50X3 shows 2820 ish, give or take, as the level that now needs to be worked through.

Risk spreads have fallen out of the bottom of the cloud.
Not price positive.

Yesterday saw a big defensive rotation.

Those that waited won’t like their trade location today. This will be the last day of
any volume of consequence.

Look for a big two way trade today.

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