Market Outlook – Bearish but still mixed. Macro view is very dismal with more and more voices talking about the recession ahead. Bounces are selling zones and a trip back to 370 in SPY and 3700 in the ES_F seems entirely possible since we hit both those numbers in the overnight.
Not a single bounce has held and the Fed releases this year have all followed the same trajectory – bounce into the numbers and a fade afterwards. BOE and ECB both raised rates following suit.
Quad xpry is tomorrow and Fed Powell will be speaking again tomorrow. We could have fireworks
We have a shortened trading week next week for Juneteenth. Join us in the Team room for more info