SPX more pain ahead
More S&P 500 pain came very fast – there was no buying of stagflationary data later in the day, no doubting of tariffs kicking in – focus was on the spooky GDPnow (even though the reality wouldn‘t turn out so bad, the effect on perfectly priced in earnings already is undeniable and bearish), and the rush to the exit door before the closing bell was as clear as it gets. My key Saturday‘s thought about it being better for Trump „to clean up fast“, is playing out very fast, just review it.
Not just the Bitcoin pump candle Sunday was engulfed, same goes for SPX and structurally worse looking NDX. Of course, high beta will be hurt worse, and the explanation of where we‘re overall, is given in today‘s packed video – thanks for liking and reviewing in full as much alpha is delivered inside regarding gold, silve and oil as well, with bonds and USD covered too.
European stocks will be doing well, dollar has turned, the index of economic surprises is no longer looking so positive, and tariff wars have real costs. Tomorrow‘s preview of jobs data can give false sense of security, and rips are being (to be) sold. Oversold enough already, or not yet that much panic in spite of extreme fear readings ruling?
Reprinted from FXStreet，the copyright all reserved by the original author.
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