According to my risk summation system, risk is fairly high all next week for a turn in or acceleration of the current trend in the DJIA with peaks on Monday the 16th and Friday the 20th.
Last week the Monday the 9th risk window and the Wednesday pm - Thursday am risk window were in the 3rd wave looking parts of a straight down market. Acceleration events I guess, definitely not turns.
Wednesday the 18th of this coming week we get the latest instalment of Fed Fun with expectations for another quarter point cut in the overnight rate. The guiding light 3 month and 2 year Treasuries yield 4.32% and 4.25% versus a 4.64% effective Fed Funds rate so the cut would seem to be supported plus Santa will be really torqued if Powell goes Grinch just before the festivities, so I guess a cut is baked in the cake.
Regards,
Douglas
