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| Data dependent... yeah.. on the sp'500 |
sp'60min
Summary
*Williams is due to speak officially tomorrow lunch time, and this mornings appearence on clown finance TV was somewhat bizarre. Williams was proudly offering a T-shirt to Liesman.
There is no question about it, when it comes to data, the only real data the Fed cares about is the level of the US equity indexes.
If we are to see a rate cut, the Fed will clearly want to see another wave higher in the US market, to offer at least a little bit extra downside buffer to the bull maniacs.
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*I am keeping an eye on Gold, which is seeing minor chop... broader formation remains a large bearish H/S formation from last November.
Hourly cycle is getting close to maxing out (if not already)... some degree of weakness later this afternoon/Tuesday morning weakness look probable.
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back soon
11.32am.. Gold snaps lower... I've got a tight stop.. looking to get kicked!
11.34am.. EXITED GLD-short... will look to re-short on any bounce :)