Sometimes you’ve got to run with the herd, but extremes, not so much.
Going into this week, we already knew what the real setup was, but let’s focus on what the majority are looking at from this inflection point.
This week gets sold as four news events as prime movers. Catalysts are backstory. What decides the week is the mark a structure, the volatility regime, already in place and where the timing models puts the crowd in its cycle. The news is the spin the herd hangs onto for a move that was set up before the news print.
Thursday’s Personal Consumption Expenditures (PCE) is the headline everyone will point to. Watch price, not the number.
