NASDAQ Short and breakdown into CPI? Or rally on?
Market seems to be betting on the rate cuts and soft landing again.
The narratives are floating around the unemployment numbers as a possible cause for rate cuts, or else rate cuts because why not? Jpow today seemed to hint at hotter inflation, PPI came in super hot today forecasting inflation, but Jpow has been a little less hawkish than his constituents in the little hints he's dropping.
A rally was sparked today after PPI wicked down. I had this wedge charted and nasdaq closed on it.
Futures are up a bit after NYSE close into asia open, CPI is tomorrow. I think we'll halt here and drop, but the market is irrational as ever. Fear and greed is close to balanced, tilted just slightly to the greed side.
BTC is down which seems to be responding more rationally to risk than equity indices. I'm holding a big short on Nasdaq out of NYSE close today from 18328. If we break up, then all time highs towards 18800 are possible. But I doubt it.
The narratives are floating around the unemployment numbers as a possible cause for rate cuts, or else rate cuts because why not? Jpow today seemed to hint at hotter inflation, PPI came in super hot today forecasting inflation, but Jpow has been a little less hawkish than his constituents in the little hints he's dropping.
A rally was sparked today after PPI wicked down. I had this wedge charted and nasdaq closed on it.
Futures are up a bit after NYSE close into asia open, CPI is tomorrow. I think we'll halt here and drop, but the market is irrational as ever. Fear and greed is close to balanced, tilted just slightly to the greed side.
BTC is down which seems to be responding more rationally to risk than equity indices. I'm holding a big short on Nasdaq out of NYSE close today from 18328. If we break up, then all time highs towards 18800 are possible. But I doubt it.
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