A few days ago, we brought readers’ attention to the one chart which we think is the most important in setting market tone and sentiment: that of emini liquidity, or lack thereof. This morning, Goldman’s trading desk also brings attention to this most important market dynamic, and in an early note from trader Matthew Fleury, … Read more
How vulnerable is the equity market? It’s very susceptible. The cyclically-adjusted price to earnings ratio is running twice as high as the historical average. Meanwhile, Fed is in the early stages of raising official rates and draining liquidity which has proven to be the death knell for the equity market. First, of course, no two … Read more
Equity futures look to be fading into the night and important levels to have been breached: S&P 4400, QQQ 350, AMD 100. It is important to understand the controlling narrative of the market: Energy/commodities/resources need to peak and China’s supply chain issues need to settle before the bond market can stop free-falling. Expect more heightened volatility, … Read more
