“Perfection is not attainable, but if we chase perfection we can catch excellence.” – Vince Lombardi
As w have warned, even if we are in a bear market or a prolonged correction, rallies can and will likely be very vicious. It’s all about follow-through and how we react at key levels now. In today’s session, we will go through these levels and structural resistances in more detail.
Interestingly enough, the Shanghai Composite just printed new lows and other asset classes remain muted despite yesterday’s action in US markets. Needless to say, things can stay out of whack and divergences can easily extend but still it’s worth keeping an eye on this and CNH too.
Going into the FOMC minutes remember to keep an eye on Bonds and the USD… that ZB/DXY split screen will be key for cycles across the board.
Make sure you catch up on our latest Weekly Outlook Video.
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Wishing you a great day ahead.