1/x Everything from Tuesday still applies: there’s a lack of buying pressure w/ 👸&🦥 @ the 🏖 during the🪟of weakness, & that paired w/ a Memorial Day BBQ FED Gary 🦍explains why we are likely to be stuck between a 🪨 & a hard place for quite some time. looking fwd, past
https://twitter.com/jam_croissant/status/1397446930083598337
2/x Memorial Day, into next week, tho There are several clues that the summer duldrums are moving in for an extended stay....we have 1/BOM flows followed by 2/ 👸& 🦥 return. Then 3/an increasingly hedged Fed meeting, where taper talk is largely priced in and dealers are hedged
3/x 4/followed by preparations for the quarterly JP Morgan Vol Crush front run. 5/ a supportive July Vixperation/OpEx period 6/ & finally bullish effects tied to the Olympics... IOW the calendar isn’t a 🐻’s friend...W/a move back above the 1.5 stdev up, where it’s likely to play
4/x a game of 🐔, we’d point to summer long structural tail winds in the form of more stable rates, more muted commodity prices, more bearish sentiment, & a technical healthy correction in🕰to kick off the next🦵to the🌙... accordingly, it’s a perfect time to look to
5/x dispersion trades to digest highly likely ST index pinning. Watch the NDX & meme names for leadership for the next 🦵higher, as we are likely to 👀short squeezes in the oversold names & Gary 🦍’s likely to limit the upside for SPX
6/6 for SPX. So watch for a continued ST countertrend growth/value unwind. Don’t be 🐕-matic. Be 💦...Enjoy the 🏖 w/👸 & some BBQ w/🦍... have a great Memorial Day!!! 🍀
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