I predict this "capitulation" rally is a sucker's rally as it was in October 2008.
It preceded wave '3' down crash.
The next sucker's rally will come lower when the Fed pivots to a neutral bias.
Only Fed panic stops this selloff. pic.twitter.com/K4Mkjbv9Fy
— Mac10 (@SuburbanDrone) July 24, 2022
🇺🇸 #Fed to Inflict More Pain on Economy as It Readies Big Rate Hike – Bloomberg
*Link: https://t.co/RadL6pS1wJ pic.twitter.com/kWez0Kk1ir— Christophe Barraud🛢🐳 (@C_Barraud) July 24, 2022
Over 25% of homeowners dropped prices last month: $XHB $HOV $LEN $PHM $TOL pic.twitter.com/orsumclUaV
— Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) July 24, 2022
🇺🇸 45% of Small Biz Employers Stop Hiring & 4% Plan Layoffs – Alignable
*Link: https://t.co/yBSZMO3rhr pic.twitter.com/ilUsNhcFyO— Christophe Barraud🛢🐳 (@C_Barraud) July 24, 2022
Wallstreet thinks $SPX will end the year at these prices pic.twitter.com/oOR4JPM5Gk
— Cheddar Flow (@CheddarFlow) July 24, 2022
On the radar
-German Ifo
-US consumer confidence, house prices, GDP
-FOMC!Markets: US10yr yield down to 2.75% – key line in the sand, DXY pulling back to short-term support 106.5, gold bouncing off support, WTI drifting lower, stocks rally stalling…
— Callum Thomas (@Callum_Thomas) July 24, 2022