Market Commentary

The markets remain dominated by geopolitics and monetary policy. While I generally prefer focusing on the technical aspects of market pricing, economic releases and geopolitical developments currently have too much influence to be ignored.

Dear community,
As some of you may already have heard, it is with great sorrow that I have to share the news that my friend and longtime partner, Peter, passed away last Wednesday after his battle with cancer.
He passed peacefully and without pain.
His family is grieving and currently making arrangements for his funeral.
They will soon share an obituary with me, which I will post here once I receive it.

The last few days have been dominated by a renewed inflation/rates scare caused by oil and the bond market, followed by a fairly sharp reversal yesterday after Fed Governor Christopher Waller sounded less eager to hike rates.
Fed hike odds dropped from roughly 63% to around 50%, Treasury yields fell, and stocks jumped: Dow +1.18%, S&P +1.06%, Nasdaq +1.40%.

While the market closed down only 22 points in @ES (SPY) and up 21.25 for @NQ (QQQ), last update's mentioned warning sign from the Advance/Decline line has severly worsened on Monday.

This past week's highlight for the markets was Federal Reserve Chairman Kevin Warsh's speech at the policy symposium in Jackson Hole.