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Checking The Mechanics
The earliest of this week's trade on Wall Street was a bit difficult to parse, and indeed I doubt seriously the utility of parsing any one day's price action outside of sessions where there's a clearly identifiable catalyst.
Stepping back from the mercurial day-to-day oscillations, there seems to be some agreement around a few things, one of which is the notion that Jerome Powell's avowed aversion to additional labor market softening -- any additional labor market softening -- means the Fed now
The numbers that McElligot cites are pretty darn compelling and, probably, not much of a secret. Which raises the question of whether shark operators are starting to front run the large models. My custom AI model points to a 94.3% probablity of that.
Stepping back, I’ve been surprised that the buying as vol has settled back has not been even larger. Or if it has been as large as predicted, who is filling that demand?