SPX LT View Feb 2018

6 feb 2018

Interesting juncture

6 feb 2018

Nota

So the potential lows are in 2450/2470 levels which is close to the August 2017 bottom from where the blow off began

7 feb 2018

Nota

US GDP growth most likely slows down at latest 2Q18 for at least 2H, with tightening this should lead to 15/20% decline.

8 feb 2018

Nota

So far SPX is normalising to trend, essentially washing out the post Sep 2017 blow off

10 feb 2018

Nota

So market is truly sniffing out the slowdown in global growth with the US the last economy to slow down at latest 2Q18. Coupled with QT, one should have 2015/2016 outcome similar

10 feb 2018

Nota

Or 2011 similar as long as we continue on current path which is QT+ growth slowdown. US has a chance via another USD devaluation into summer but lets see. Interesting what Draghi will do as EU stocks should more or less go 15/20% down under this scenario.

13 feb 2018

Nota

Short term risk aversion rose sharply

26 feb 2018

Nota

Working very well so far as paradoxically bullish positioning declines!!

27 feb 2018

Nota

Seems C&H forms on futures

1 mar 2018

Nota

Becomes more and more like 2015/2016