TG talks about how markets pulled back the way he was expecting them to this week, and since then he's been looking to see if the pullback was into strength. Typically, the market is bullish going into the 4th of July weekend which is why he's been looking for support after the pullback, but at this point, that support is not clear and we continue to see weakness out there.
TG explains that while the SPY seems like it is trying to hammer out a local bottom, other bullish areas of the market are getting hit hard. The main thing we are seeing there is that commodities are showing significant signs of lowered demand and could also be a signal of global economic slowdow...
TG dives into the charts after the Fed raised rates by more than 50 bps to 75 bps. While this means the Fed is being more aggressive about inflation, it also means they are playing catch up. The VIX and UVXY really look like they are setting up for some sort of big move, but we aren't sure when t...
Previously TG said that we should be prepared for the markets to resolve lower instead of higher, as many were thinking. Now that the move down has occurred, it will probably be based on the CPI data and support zones as to whether price bounces or continues lower from here.
