We got the relief rally over Syria. Then, a huge sigh of relief over Yellen. The shorts are blowing. This rally has a ways to go. As soon as the retail investor starts to move because of FOMO (fear of missing out), it's time to sell. That time comes at Christmas
Chinese leadership is under pressure. Hogs will continue a hard rally. They need to buy hogs in order to feed people leading up to potential unrest. The Chinese real estate bubble is about to burst.
Today's action was pure Syria. But what is interesting to me is that if you take the last two down day action, and aggregate it, the rally today didn't make it halfway back. Short term short. Market feels tired. What can rally it? The day the missiles fly. Big rally on whatever day that is. This is not the time to put on a "if you have a hunch do a bunch."...
CME is a proxy for the FED. Since the FOMC is meeting today, I thought I'd remind people of that. At it's core, CME is an interest rate exchange period. It has other sectors obviously, but the core driver of profits are the interest rate quadrant. When the Federal Reserve starts to move, volume will double.
