I was a bit concerned on Friday night when Kim Jong Un announced peace and love for all humanity, but equities aren’t exactly blowing through the roof. In fact, the overnight session started with a big pop higher and was red on both the ES and NQ before the open. So as I speculated, it seems war is bullish and peace is bearish.
For now, however, as I’m typing this, ES and NQ are green again, with the S&P 500 up about one-third of a single percentage point. More important to me is bonds, which are down slightly (about one-fifth of a point……….yeah, not exactly a thrilling day here):
The tint I’ve drawn on the intraday chart above shows the next breakpoint we need. The same level, circled in green below, should get things really cooking (and interest rates rising), but, worrywart that I am, I won’t be content until and unless is actually transpires.
For now, I remain aggressively short, and I actually have about twenty other potential positions I’m going to be going through. You folks already know the details of my obscenely large number of positions from my octet of videos during the weekend.
