Short squeeze maturing into oversold bounce
|S&P 500 prepared a trap for late bears, however the bull trap is close to springing close, with not too much more than XLF standing in the way. Saturday‘s packed video featured the key bond market turn Friday, and what would you say regarding the same chart following Monday‘s close? Is it good enough combined with risk-off nature of S&P 500 rally?
That‘s what I‘m answering in Tuesday‘s timely video, together with diving into gold, silver and oil prospects. Reaction to JOLTS and ISM manufacturing data counts today – be ready for an element of „uff, it‘s behind us finally“ if not diverging much from expectations (slight undershoot in data is my pick, in line with soft patch in the economy developing)..
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