Anticipatioooon...Anticipaaaaation...Jerome is Making Me Wait

For though who grew up in the 70's

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Fed Futures are pointing towards less than a 10% chance of a rate cut as of this morning. It was 100% yesterday they would not hike. There’s scene in Dumb and Dumber that reminds me of today. ‘So your saying there’s a chance’

According to the COT Report released Friday, the amount of Large Speculators shorting the equity markets has declined vs the report release on the 2nd of June.

At this point, many of the stocks that have pushed this market higher YTD are beginning to trade sideways.

Conclusion

Its looking more like a ‘skip’ on rates hike is very possible. If not….WOW! A lot of downside could be had.

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