SPX bottoming amid stagflation fears
|S&P 500 tentative bottom called during Tuesday‘s session got (not too stunning, but tame) follow through to the upside – and that‘s what I readied all clients for as you can see from this intraday channel winning snapshot that I perked up with MSTR short play too. Plenty of quick gains delivered before the 25% tariffs intention against Europe hit the wires, which would have sunk every ES swing trade yesterday.
We have to respect the mixed signs that I described in today‘s packed video – and NVDA earnings are finally getting bought even if I highlight deteriorating outlook for margins. That implied volatility crush is though still coming today even as NVDA extends gains. Today‘s incoming data at least dispells some notions that I described in the video about the economic environment.
No matter the volatility – we have great times ahead in equities, real assets all the way through cryptos – just as the below tweet indicates. I‘m describing the next trading moves for clients below.
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