sp'60min
Summary
Now its a case of whether the market can attain a daily close >sp'2100. That doesn't have to occur today, but it MUST happen in the current up wave, or the failure would mean we're headed back lower... at least to the rising 200dma (2046).
Not surprisingly, with the USD cooling - headed for DXY 92/90 zone, most $ denominated asset classes are seeing some upward pressure.
To me, the easy trade will be to go short - whether Gold, Oil, or (gods willing) the equity indexes, once the USD floors... but that is probably some weeks away. For now... I'm content to watch.
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Update from an unusually quiet Oscar
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Doomer chat, Hunter with the infamous Mannarino
I think its a case of Mr M' getting overly excited at the recent weakness. Calling a grand top is a bold call, and I think he is grossly wrong. What about the QE, buybacks, or low rates? What does Mannerino think people should do in the coming months/years.... start buying bonds... for a low/negative rate? Crazy.
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Have a good Wednesday