S&P 500, VIX, Dollar, Recession and Earnings Talking Points:
- The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 127.00
- Despite some provocative event risk (China GDP, BOJ decision) and some bouts of acute volatility (USDJPY, S&P 500), the broader market avoided conviction
- As the benchmark US index teases another 200-day SMA break and the DXY holds its extremely tight range, a run of top event risk in the week ahead raises the stakes for breaks
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We have closed out the third week of the new trading year, but the return of liquidity has not brought with it a sense of conviction from the speculative rank. There remain underlying conditions that are acting to throttle a full-blown sentiment charge – whether it coalesce around a bullish or bearish view. Seasonal norms for activity and performance from…
