The markets are a little skittish today. The current rising channel is currently broken, but only just below the .886 of the previous high. What matters is where it closes. Anything around 1700+ is helpful to the bulls; 1702.60 would be even better. Note the placement of the TL from 1994/2002.
The USDJPY continues to consolidate, forming a pennant within the pennant. It has to break one way or the other by mid-December, and after all this coiling will likely break big.
While these were an important couple of Fib levels, the rising white channel could easily usher rates up to 3.35 or 3.82 by year’s end. It’s lower bound, however, is way down at 2.02; so, take your pick of economic/political/Fed scenarios.
Heading into the home stretch – only 5,000 miles to go. Thanks, everyone, for a great response so far. It’s working out best for most of you to do one-on-one meetings, so we’ll stick with that unless there’s a need to double up.
The fund website is partly up; I’ll post here when it’s fully live. If you have contacted me about a city below and haven’t yet heard back, please contact me ASAP. It’s quite possible an email slipped past me.
Saturday/Sunday: Philadelphia/D.C. (taken)
Monday am: New York (breakfast meeting – taken)
Monday pm – Boston (meetings at 2:00 and 3:00, available after 5pm)
Tuesday: New York (currently available between 11:30 – 2:30)
Wednesday: Chicago (meetings at 9:45 and 11:00 (ORD), available after 12:30pm — either downtown or in O’Hare area)
Thursday am: Chicago (until 10am)
Thursday pm: Indianapolis (no slots available)
Friday/Sat: Minneapolis and/or Denver (tbd)
Saturday: San Francisco (tbd)