After the bullish breakaway gap up last week, the markets marched higher into resistance, as predicted. The markets – and internals – are getting overbought, so time to be cautious.
We had some nice trades recently, closing DIA and UBOT with great gains (see below).
All eyes will be on the Fed’s policy meeting this Wednesday. Fed-funds futures placed an 90% probability of a 25-basis-point cut. Trump would like it to go to zero, to get the economy running hot while his tariff wars cool global trade and worsen uncertainty.
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