Morning Radar
... the headline roulette continues
Hello everyone,
Once again, the circus act is in full swing – and we’re not even close to midterms yet; sad but true.
As we discussed yesterday, anything can happen and markets can turn on a dime, but as things stand, all the TACO‑cheering and the conviction that the low is in for indices globally – and that there are no more longs to be had in crude – looks a little premature, to say the least.
You don’t need to be a rocket scientist to see that max pain for Trump is stocks down and crude up, and the Iranians know this very well; the Iranian foreign minister removed any doubt about that yesterday on X: “U.S. officials are posting fake news to manipulate markets. It won’t protect them from the inflationary tsunami they’ve imposed on Americans.”
Levels to watch:
SPX: no change to the roadmap we’ve been using; the bigger‑picture moves are still in play, with 6,800 as the bull/bear line for now.
Crude: massive chop inside the 80/90 range; a daily close outside that range should get traction, and the base case remains that the upside is not done.
DXY: still waiting for everything else to move; no change to the roadmap, with shorter‑term massive chop between the 2026 open and the 100 mark.
Wishing you a great day ahead!
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This Substack is not an alert or trade signal service and does not offer investment advice. You and only you are responsible for the trades or investment decisions you make. Authors are not registered investment or commodity advisors, brokers or dealers. Please do your own research.