Meaningful SPX breakdown
|S&P 500 didn‘t stop at crucial 5,240 support, and cut through with utmost ease – no longer within a tight range, and this is not the kind of entry to a fresh week buyers want to see. Obviously it had to be played fast on the short side to generate gains for clients, which I did for both swing and intraday ones – the question that swing traders must ask, is whether we‘re oversold enough, or not yet?
The readings aren‘t yet quite near the extremes, and USD is still declining while winning plays talked at length both Saturday and yesterday got moving some more. Today‘s extensive video deals with the prospects of S&P 500 coming back or not, and also gold, silver, oil and BTC while USD is having hard time rising, and it‘s not just about still no country deal announcements (or at least vibes), or Powell… as he‘s being prepped for the fall guy role, e.g. for not cutting and insisting tariff consequences would be larger than earlier anticipated and inflationary.
And foreign money flows are leaving the US, with Treasuries and USD alike pressured. And we‘re nowhere near e.g. any great tax refunds announcements – all the pain is being frontloaded, within months midterms will get into focus, which is the time to get pro-business while now tackling trade deficits with the blunt tariff tools hitting supply chains left and right.
Little wonder that the sectoral view remains risk-off, and consumer is fearful. As per one of the fruitful weekend calls, Bitcoing is going up, so make sure to review the latest videos and premium calls…
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