(latest free note in bio)
In "Dollar 'Crashes,' But You Should Worry About SPX," I pointed this and another key factor out (Nov 29):
"Look, the Fed will continue to tighten in December and, likely, two more hikes in 2019. Much of the problem may come around its balance sheet unwinding which causes the effect of additional tightening."
"And yesterday's 52-handle rip a was on poor NYSE breadth, on both a percentage of shares up and volume. When that has occurred, the SPX typically has a bearish tilt over the next week. Not just a little bearish but quantifiably so.
With the S&P e-minis down 9.25 handles, you have to ask yourself: am I reading too much into what Powell said?"
Worst December performance since 1931.
As Treasury Sec. Steve Mnuchin force-feeds the President Rolaids like a duck being prepped for foie gras, we should sit and awe at the SPX erasing nearly all of the Trump gains.
In "Dollar 'Crashes,' But You Should Worry About SPX," I pointed this and another key factor out (Nov 29):
"Look, the Fed will continue to tighten in December and, likely, two more hikes in 2019. Much of the problem may come around its balance sheet unwinding which causes the effect of additional tightening."
"And yesterday's 52-handle rip a was on poor NYSE breadth, on both a percentage of shares up and volume. When that has occurred, the SPX typically has a bearish tilt over the next week. Not just a little bearish but quantifiably so.
With the S&P e-minis down 9.25 handles, you have to ask yourself: am I reading too much into what Powell said?"
Worst December performance since 1931.
As Treasury Sec. Steve Mnuchin force-feeds the President Rolaids like a duck being prepped for foie gras, we should sit and awe at the SPX erasing nearly all of the Trump gains.
