- It's been a challenging week with the Fed catalyst delivering volatility and uncertainty
- This was the meeting "where they were talking about talking about" changing policy but didn't change policy
- Equity and commodities were hit hard, Bonds rallied (albeit choppy) and the USD lifted
- It wasn't easy for anyone
- The internals this week within the equity markets were really terrible and concerning
- I am taking profits on some shorts from here to the close: X +18.5%, NUE +12%, COP +3.6%, CHRW +2.5%, CSX +5%, LSTR +6.5%, JBHT +8%, CCL +7%, COST +1.5%, KSS +4.3%, OIH +7.3%, CORN +2%, SOYB +5%, WEAT +5.5%
- I still think all of these can work lower however I could see a bounce to add back.
- Taking nice gains on a Friday is a good way to start the weekend
- Have a great weekend!
Daily Note
About This Week
