S&P 500 traded volatile Wednesday as I expected – the fear of Fed minutes revealing deep rate cutting rift that would result in „higher for longer“ narrative strengthening, which is exactly what happened, accompanied by certain relief over it not being that bad. So, do we see some clues either way before today‘s non-farm payrolls?You bet, in today‘s video I break down the data and present what I expect to happen next in SPY, QQQ, yields and USD – turnaround for some, and trend continuation for others, with calls made premium as regards precious metals and oil as well (copper had been turning up nicely, affecting silver too, which is the positive correlation relationship closer at some times more than at others as I had been bringing up at opportune times for years.Forget not about Michigan consumer sentiment data after the opening bell too – data heavy Friday, let‘s dive into the charts.
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