A good time to update the latest S&P chart as things become clearer on the Fed front. Markets positioning for a 25bps cut as a done deal and Equities enjoying the rally.
We finally cleared the 3,000 level yesterday and it's time to start working the sell side with all eyes on 2,400 targets. Keeping a very close eye on Vix as we enter this final Quarter:
The capitulation waters are upon us and it wont take much more than a tick above 15 in Vix to confirm the highs in S&P for a very very long time. This is the capitulation chart for Vol:
Best of luck all those turning underweight in US Equities.