Today’s setup: end of the month and holiday bullish bias and channel support versus disappointing economic data here and abroad (and, that war thing in Ukraine that the “market” doesn’t seem to care much about.)
One wildcard is Japan. The latest data was, again, horrid. But, there’s increased talk of doubling the country’s pension plan’s allocation of stocks. No economic recovery? No problem. The carry trade should be safe for a while longer.
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