Dow, S&P 500, Volatility, EURUSD and Fed Rates Talking Points:
- The Market Perspective: S&P 500 Bearish Below 3,800; USDCNH Bearish Below 7.0000
- While there was notable event risk for release Monday – such as the NY Fed’s inflation expectations – it seemed markets were motivated more by Friday’s momentum
- A false breakout reversal from the S&P 500 and sustained advance from the EURUSD opens significant macro questions for Tuesday trade and beyond
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The market’s penchant for volatility but struggle for conviction last week seems to have carried over to this new period. We are no doubt still trying to shake off the cobwebs of the liquidity swoon associated to holiday trading conditions and the subsequent ‘return to normality’. Yet, critical in grounding some of this errant speculation in a viable systemic theme that can…
