The broader averages and major sectors have climbed to a significant decision level. Is the US/China hopium enough to keep this rally going to newer highs? How much more than 75bp in cuts could traders and investors be counting on? All this spells topping action on the charts and psychology.
The Federal Reserve has a major messaging challenge ahead and the US/China hopium could be wearing off next week as the market looks to either sink back into its distribution range or break to new highs…
The unwinding of these moves is providing the next great entry.
I’ve been a gold bull for some time and pullbacks have been few and far between for entries within the 34 EMA Wave. Here’s a setup that I have on the books and where there is opportunity now.
We love the edge of a trend and/or chop, but when the markets are on edge, it’s far more important to manage risk and position size as new headlines each day are causing wide swings in the market.
