Sunday afternoon, a few minutes after the markets opened and the ES was up half a single point, I wrote that “We could easily get a 25-30 point bump higher”, and I tinted a target:
Well, we awake to a new trading day, and here’s where we are at:
This is hardly shocking, because Mnuchin isn’t going to just let the S&P go to zero and sit around doing nothing. They are furiously walking back all the “protectionism” talk, desperately making deals with Korea and, at the moment, China. (Kinda like how there’s never going to be a wall built………see, these “promises” don’t really actually happen).
Besides the intraday chart, the other reason I felt we were going to bounce this morning was because the headline below was the header post on ZH virtually the entire weekend (now it’s buried deep). And if there’s one thing for sure, if we ever get a crash, it won’t be announced like this (and check out the huge number of views it got):
