The video in this report is only accessible to members
The video in this report is only accessible to members

The minor stalling out above $SPX-4100 might require a final push up to test June peaks near 4177, but the majority of this initial move higher off last week’s lows looks to be complete.  Interestingly enough, some evidence of the US Dollar and also Treasury yields turning higher should be watched carefully for those looking for positioning in risk assets, as $SPX largely fell as Yields and Dollar pushed higher.  While my 6-week forecast calls for 4200 to be exceeded on its way to 4230 and then 4369, this move likely does not materialize in a straight line following a 12+% gain over the past six weeks.  Near-term, upside looks limited, and I’m expecting a stalling out/trend reversal which could take risk assets lower over the next two weeks.

The video in this report is only accessible to members

Treasury yields down to near key support.  Bounce likely over next few weeks   

-After nearly 100 bps in weakness in yields over the last six weeks, support looks near.

-Treasury rally (yield weakness) looks more extreme than warranted given no evidence just yet of job losses and Friday’s NFP report might prove to be the catalyst for a jump in yields.

-Pattern looks similar to a fourth wave consolidation from June peaks.  While a l...

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