You Ain't Seen Nothin' Yet

Futures were off sharply overnight, tagging our SMA10 target, and even a little more as the moving average actually dropped a little (a rarity lately.)

As is so common these days, the rest of the backtest came after the close and before the cash market opened this morning – the better to keep the bigger players out of the mix. Meanwhile…remember that trade spat with China and how it disrupted markets? You know when Larry Kudlow goes on CNBC talking up King Dollar, it’s front and center all over again. And, with Trump looking to blame China for everything coronavirus related, you ain’t seen nothin’ yet.