S&P E-mini Futures:
Coming off best overnight levels.
Asia was mixed and Europe is all green.
Quad Witching today: all four asset classes expire simultaneously -- stock index futures, stock index options, stock options and single stock futures.
Turns out BoJ's Kuroda was just kidding. That talk of stimulus reduction? Just trial balloons. Stimulus going nowhere, he says. Besides, we're still miles away from out inflation target.
Train wreck in making.
Not politics, just an update on the Starbucks/Howard Schultz cycle noted back in December 2016.
Having just reached records highs, Starbucks may have gotten ahead of itself:
Starbucks customer says she was bullied for supporting Trump
Last December Starbucks CEO Howard Schultz announced he was stepping down . . . again. The first time was 2000. He returned in 2008. Another Fibonacci 8-years later, he announced he was leaving again.
Maybe a bottom in 2024?
Friday -- NFP, Peak Caffeine, China Repo Madness, High-Volume Highs
Skandies and AUD & NZD on the move, stronger. JPY weaker (barely) on BoJ/Kuroda but CHF still flashing red.
Short-end implosion continues.
WTI crude looking more bouncy this morning. NG consolidating a two-day rally.
Possible scenario for SPX with not one, but two clean stops. Reaching "5" later on would not be THE top but merely a tradeable top of some significance, possibly 100+ down.