The collision of global markets and social mood

Thursday, April 20, 2017

Thursday -- Saved By 51 Ticks

S&P E-mini Futures:
Bumping higher.

Asia mostly green. Europe mixed.

Fischer Says Foreign Economies Better Able to Handle Fed Hikes -- BBG

I beg to differ with Fed Vice Chair Fischer: higher interest rates will put added pressure on foreign countries to pay back US dollar-denominated debt, and will be USD bullish.

Wonder what US Treasury Secretary Mnuchin will have to say later today when he is due to speak.

Mixed mood at its finest. Exactly the counter-intuitive news I want to see at exactly the right time.

Rockridge dump receives 19 offers, sells for quarter-million over asking

Larry Fink: ‘Warning Signs Are Getting Darker’ for the U.S. Economy

AUD, EUR, and JPY stronger.

Bitcoin back above 1200.

Day Two of lower prices thus far. Volume will be key.

WTI crude whippy on OPEC jawboning. NG down.

Day Two of gold and silver red with platinum, palladium, and copper higher.

S&P Outlook:
The bullish case survived by 51 ticks on the S&P cash yesterday.

Now needs a rally to the 2360 area to prove itself. Otherwise, any stalling could see me in SPY puts for a test of 2300 sooner than later.

That said, would still be looking to position for buys targeting 2400-2500.

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