The video in this report is only accessible to members
The video in this report is only accessible to members
The video in this report is only accessible to members
Incredibly enough, Thursday’s surge surpassed even what options markets were expecting for volatility post CPI.  Equities, Treasuries and currencies all showed some of the largest movement seen in years.  SPX’s move above late October highs puts a major decline on the back burner for the time being. While risk/reward is never ideal to initiate new longs into a +7% advance, huge breakouts like Thursday’s on above-average 8/1 positive breadth are rarely “the high” of any move.  My scenarios which were discussed two days ago now warrant following this breakout, regardless if prices are overbought short-term.  The real question of whether “the low” is in all has to do with whether Technology has truly bottomed along with Treasuries.  I’m inclined to say no on both counts.  Yet, it’s still necessary to obey the near-term trend when SPX has religiously followed the 60-year cycle for most of 2022.  If this continues, it would put a minor peak in place near December 5 but largely pushes higher for the balance of this year.  Despite this not agreeing with what many feel fundamentally makes sense, my thinking is 4000 is certainly possible and even 4100 which would align with the larger down...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free