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5/26 Nomura:
“…markets appear to have recently begun to more completely accept the implications of the Fed’s stated commitment to bringing inflation under control, even at the expense of growth. With markets now pricing in this commitment, the near-term urgency to escalate the Fed’s hawkish pivot has faded.”
... there is a flow catalyst to drive further Equities “squeeze” in the coming-days and weeks ahead across CTA Trend, Risk Parity and most notably, Vol Control with some very large $ re-allocation flows. Indeed, a quick look at CTA positioning shows that we are approaching massive short squeeze risk. Of note, S&P CTAs, which are -100 net short, would reverse and start buying at 4,097 (which is fast approaching).
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
/ES, we are here Lets all hope that the pull back this time will be holding up at mid BB unlike the last 3. as short term trade. from here down to mid BB will be lots of gas money.
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Well i covered one half of my short position at 4056.5 for 10 handles. Trying to hold for 3945-46 on the other one .. but this is like watching paint dry!
'Insiders' Are Buying This Dip.
As Bloomberg reports, according to data compiled by the Washington Service, more than 1,100 corporate executives and officers have snapped up shares of their own firms in May, poised to exceed the number of sellers for the first month since March 2020 marked the pandemic trough two years ago.
Notably, the insider buy-sell ratio (1.04 this month from 0.43 in April) also jumped in August 2015 and late 2018, with the former preceding a market bottom and the latter coinciding with one.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Not sure it's a lower high or not (red arrow). This kind of pullback is rare in an uptrend day for sure though.
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