Following the path
Comment:
There is an OPEC meeting this week. There is a probability that a decision could be taken to drive oil prices higher which should support SPX. Retest if the highs possible then
Comment:
Transports iffy...
Comment:
Retesting the highs will squeeze the vast majority of people..markets tend to do that regularly. Lets see
Comment:
2 gaps above 2800s, FED meeting/ECB meeting. Crunch time into June 20..
Comment:
Crunch time coming next few sessions. The most pain for all is closing the gaps and reversing next few sessions..
Comment:
Still marginal higher high possible but not necessary... Quarter end next week and then 4 JUly
Comment:
Month/quarter end this week. From next week, QT rises to $40bn per month and combined FED+ECB will be negative liquidity for the first time. Also 2H we should be traversing into US growth slowdown. In other words all parts are should be in place for a 2nd leg down
Comment:
1Q2018 GDP confirmed at 2.8% YOY. So this week we are completing 2Q and will be interesting to see whether US can muster 8 consecutive Q of whatever marginal acceleration in GDP to make it a record streak that has never happened before. MAGA awaits
