A nice little 3-day rally (+2.9%) for the S&P 500 for Christmas, and the Fed (Atlanta) cuts its Q4 GDP forecast to 1.3% after raising rates!
In other financial market news, Down Dollar is what that ole “reflation” hope is built on and you’re seeing some follow through there this morning with EUR and YEN +0.4-0.5% against USD, but bullish TREND in U.S. Dollar remains firmly intact – risk range = 97.13-99.41 US Index.
Meanwhile, Oil was up +4.8% in a straight line yesterday and led the rally in seemingly oversold #Deflation equities. That move does not a bullish TREND make with the immediate-term risk range for WTI now = $34.94-38.08 (sell at the top-end of the range).
