It’s good to know that earnings season is just a few weeks away, and the Fed-fueled gravy train is going to be discovered to be – – well – – out of gravy, I guess. As we look at the /ES pre-market, the lengthy range-bound stall-out is, in my opinion, about to break down into a lusty swoon.
The same can be said of the /NQ, particularly if the riotously overvalued NVDA is ever sold off for more than a few hours. We came deliciously close to an NVDA breakdown early yesterday, but it was thwarted.
I’m fully loaded for bull at this point, out of buying power and committed to resisting the temptation of plowing even more cash into my account. Every position is nicely in the green, and I intend to keep it that way. Let’s see if Powell manages to help or hurt us with his yammering in a few minutes………..
