Republic Risk: "And Totally Redeem Yourself"
Jerome Powell's speech yesterday was pretty dull. But his cursing of climate change protesters gives me hope that the central bank won't bow to the pressure of a "third mandate."
Equity Index Strength Is RED on the S&P 500 and RED on the Russell 2000
Each morning, we assess the full flows of the market by measuring statistical metrics on a very specific number of stocks to determine broader sentiment and the momentum trend. When these readings turn red, we focus on cash, build trades around positive sectors, or take inverse positions against indices.
Friday may be the most positive day for the markets in 2023… but we’re red across the board. This Treasury Auction yesterday was a dumpster fire. In addition, our good friend Jerome Powell threw cold water on a central bank pivot when he wasn’t cursing climate change protestors.
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