Reaching the limits of rational
The market has reached the limits of what humans see as rational:
10Y Yields: nearing 4 percent, yes, still acceptable, still manageable.
EURUSD: 0.96..0.98 - with all things happening around the world, yes, understandable.
SPX: down ~1000 points from ATH, totally acceptable for the challenging environment we are in.
But it's all going to be fine. Things will come back to normal, and we just need to buy more SPX, and add to our long EURUSD position, because it cannot fall forever.
This is the current market sentiment. Such sentiment precedes the extended wave 5, which goes far beyond rational and will transition the world into the state of complete panic.
SPX below 1500, EURUSD at 0.75. 10Y yields above 7 percent in 3 months.
The world still hasn't realized that something is wrong with their beliefs. Once it happens, the sellers will flood the markets in FX, Stocks and Treasuries overnight. The problem is, the buyers will vanish at the same time.
10Y Yields: nearing 4 percent, yes, still acceptable, still manageable.
EURUSD: 0.96..0.98 - with all things happening around the world, yes, understandable.
SPX: down ~1000 points from ATH, totally acceptable for the challenging environment we are in.
But it's all going to be fine. Things will come back to normal, and we just need to buy more SPX, and add to our long EURUSD position, because it cannot fall forever.
This is the current market sentiment. Such sentiment precedes the extended wave 5, which goes far beyond rational and will transition the world into the state of complete panic.
SPX below 1500, EURUSD at 0.75. 10Y yields above 7 percent in 3 months.
The world still hasn't realized that something is wrong with their beliefs. Once it happens, the sellers will flood the markets in FX, Stocks and Treasuries overnight. The problem is, the buyers will vanish at the same time.
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