Market confirming a triangular consolidation before next move - seeking clarity on China and Fed decision. In my opinion, China fear more or less is secondary compared to rate hike.
- 12.5 bps or no hike we test 2050 in no time.
- 25 bps hike and we break through 192 and 187 and test 182 levels.
What are the odds we consolidate around 1890 when China Caixin Manufacturing PMI comes out on Sept 22.