Guys the latest report below.
Im in sync with the Swiss guys comments here below. I’m not aggressively short yet on any indexes although i do strongly suspect euro indexes have already seen their high water marks for the year. Sp500 im not so sure but the failure is extremely like to come on this next bounce would be my take.
I’d like to make one comment on volatility. There are two types of volatility in my book. There is a low volume algo generated volatility which tends to be whippy and knock directional players for 6. And then there is the high volume volatility that is super directional and often comes as a part of a multi month or year directional trend change. For my mind we are likely still in the former than the latter. Therefore be careful if you are playing this.
Here the Swiss team’s latest:
And here GS
And here RBC tech
And here JP on the macro:
And here :
And here SC fx
And here RBC on the macro:
And here OBC overnight inc china.
Rich