So the Fed has no choice now but to pull the band-aid off in September. If equities go no-bid this fall, so be it. Everyone was warned.
Upper trendlines get us close to 2020 next week. There is the holiday weekend. Will be interesting to see if we top just before it as players take a defensive stance. Weekly Bollingers on the SPX are up there ...
Good news! The NPS has decided to save the chalet in Enchanted Valley for now. I visited the site back in January, when the tone was very different and it sure felt like they were going to let the river take it.
Even if they move the structure to another site in the valley, the NPS will likely have to shore up the bank with riprap to protect the new location. This violates the idea of wilderness and letting Nature's God sort this all out, a significant shift in thinking from the Park Service.
|SPX going no-bid after September FOMC|